During times of economic hardship, individuals may approach their employer and request a personal loan in order to help make ends meet. If an employee of a church requests a personal loan from the church, there are several issues to consider. As a matter of policy,...
If your church has made the difficult decision to reduce staff levels, you may find yourself scrambling to ensure proper accounting checks and balances with fewer employees. An effective accounting control system is dependent upon proper and adequate segregation of duties. Accounting tasks, particularly those involving...
“I decided to go into ministry work because the pay was so great!”, said no one EVER. Ministry is a thankless job in many ways. The pay isn’t usually very good, the hours are long and include nights and weekends, and the people you serve...
Question: Am I required to pay overtime to employees who work on holidays? Answer: Generally, no. Whether you pay extra for work done on holidays is up to you. There is no federal law that requires an employer to pay extra. As for overtime, if an employee...
Question: What is FMLA and how does it apply to churches? Answer: What is it? FMLA is short for the Family and Medical Leave Act. It generally provides 12 weeks of leave in a 12-month period (more if caring for an injured or ill service member)....
Question: Can I Deduct the Mortgage for a Home That is Being Constructed? Does it qualify for the housing allowance? Answer: The IRS allows for taxpayers to deduct all of the interest they pay on a construction loan within the 24 months before the home is...
We’ve all inappropriately handled our emotions at work. We’ve either stuffed our emotions when we should have shared them or we’ve spewed emotions when we should have stayed silent. Venting in the workplace is important but there are things to consider: should you vent to...
The first step in this process is to analyze the type and tax status of your retirement savings. For this purpose, divide your accounts into three categories: Taxed Later: Traditional IRAs, 403(b), and 401(k)s are types of savings accounts that give you a tax deduction at...
Church HR requires a specific balance between compliance and culture and having gaps could cost you money and time, not to mention staff morale and relational capital with your congregation. If you’re juggling 17 different hats (including “HR” anything) but don’t have the time or...
Now that President Biden has announced student loan relief, the state tax treatment of forgiven loans is of interest to many ministers. Ministers who have student loans forgiven are spared a federal tax bill, but not all states treat forgiven loans the same. A forgiven loan amount is...