The end of the fiscal year and tax year is just weeks away. How is your church preparing to meet the legal requirements and standard good bookkeeping practices? This checklist from CapinCrouse can help you stay on target! (Photo: kenteegardin, Creative Commons)
For 2021 the IRS is allowing charitable deductions of up to $600 for taxpayers who take the standard deduction when filing taxes. Ordinarily standard-deduction filers cannot claim a charitable deduction. The IRS explains. (Photo: 401(k) 2013, Creative Commons)
Most church leaders know that year-end offerings account for an outsize portion of church income. With planning and strategizing, your congregation can make the most of the year end offering boom. From Church Law & Tax. (Photo: Steve Jurvetson, Creative Commons)
Modern living presents us with a double whammy: We have incredibly complex lives and finances stretched to the brink. It doesn’t have to be this way. You can learn ways to simplify your life and in the process free up your finances. From the Christian Science Monitor. (Photo © rangizzz – Fotolia.com)
People’s eyes generally glaze over when they see a church’s line-item budget. What do all those numbers and categories mean? It’s daunting! A narrative budget helps explain finances in a way people can readily understand … and get behind! From the Center on Faith and Giving.
The good news: Charitable giving is on the rise. The bad news: Giving to faith organizations is on the decline. What can religious leaders do to help? Perhaps more transparency would help. This resource from Luther Seminary explores.
As individuals and families, we can find ways to use our money for the general good, and not just our own. Faith & Money Network talks with a thirtysomething couple that has found fulfillment practicing “Sabbath Economics.” (Photo: Maitree Rimthong, Pexels.com)
Statistics show that overall charitable giving is going up, especially in areas of public benefit and the environment. Yet giving to religious organizations is declining. What are we doing wrong? Author and Yale Divinity teacher Jim Elrod suggests churches adopt greater transparency. (Photo: Claire CJS, Creative Commons)
As if the world’s financial system was not complicated enough, now there’s cryptocurrency. And what if someone makes a donation to your congregation in Bitcoin? Ken Sloane of the United Methodist Church gives a good overview of cryptocurrency for church leaders.
It’s no secret that the Bible teaches us to live our lives differently than the world does. And that’s especially true when it comes to money. How the world views, values and teaches about money leads to financial slavery, but God’s way leads to freedom. From Crosswalk.com. (Photo: © Mladen Djordjevic – Fotolia.com)