The Bookkeeping with a Purpose Podcast- Bookkeeping, Christian Entrepreneur, Church finances, Clergy Taxes, Minister payroll, Biblical mindset, cover art

The Bookkeeping with a Purpose Podcast- Bookkeeping, Christian Entrepreneur, Church finances, Clergy Taxes, Minister payroll, Biblical mindset,

By: Michelle R Brown EA Christian Business Mentor Enrolled Agent
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  • Summary

  • Hey there, I’m Michelle and I love all things Jesus, business and church finances! I help church finance individuals just like you go from feeling confused and frustrated with what you don’t know about church finances, to being more confident in your role while increasing your proficiency and expertise in the church finance realm. Are you tired of Google searches that result in endless pages of answers to your questions about church finances, housing allowances and clergy taxes? Do you need help with getting the right processes and procedures in place for your church office or business? Are you looking for a group of like-minded believers who understand your desire to do business and serve the local church God’s way? In this podcast, you will find practical AND biblically based business solutions for your church office or bookkeeping business that serves churches . We will give you tried and true bookkeeping tips and lessons that are specific to the church ministry and other foundational practices that you need in place to make sure that the church(es) that you serve are in compliance with current industry standards and IRS tax code. We will also lean into mindset training to help you think like the business professional God created you to be and renewing your mind through the application of truths from the Word of God that will encourage and free you to do business God’s way while learning what you didn’t even know you needed to know! My mission is twofold: #1 to help church bookkeepers/treasurers/finance individuals become more confident in their role and increase their expertise in church finances. #2 to help business owners unapologetically do business God’s way and grow a successful bookkeeping business they feel good about and that helps make the world a better place. If you are ready to walk out the calling the Lord has on your life while serving Him with excellence - then you are definitely in the right place! I tried to achieve success in the secular world but felt unfulfilled and like an outsider because of my beliefs. I finally realized that taking the risk to create a business (or businesses in my case), where I could openly express my faith and beliefs and to put God at the center of everything I did, was more exciting to me than the fear of the ”what if’s”. So, I did it! Not once, but twice! I want to share with you what I’ve learned through my 20 years of business experience in both Christian retail and my bookkeeping business to help you take that step of faith and walk in courageous obedience to God. If you are ready to serve your church with confidence and/or create a business that keeps God at the center of everything you do WHILE helping to make the world a better place all at the same time - this podcast is for you! So grab your Bible, a notebook or laptop, and the dream God gave you, because we’re doing this. It’s time to serve Him with Excellence! Learn: www.churchfinances.org Community: https://www.facebook.com/groups/churchbookkeepingandclergytax
    Copyright 2023 All rights reserved.
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Episodes
  • Ep 60 ~ Decoding the DOL’s New Independent Contractor Rule

    Ep 60 ~ Decoding the DOL’s New Independent Contractor Rule
    Mar 7 2024

    NOTE: The Department of Labor (DOL) and the Internal Revenue Service (IRS) use different criteria for determining whether a worker is an employee or independent contractor, and the criteria serve different purposes.

    The DOLs criteria are primarily used for determining eligibility for wage and hourly protections under the Fair Labor Standards Act (FLSA), ( which we covered in Ep 57) while the IRS’s 20-factor control test is used for tax purposes.

    On January 9th, 2024, the DOL unveiled its final rule, which fundamentally alters how businesses/organizations (incl. churches) determine whether a worker is an employee or an independent contractor. Effective March 11th, 2024, this rule replaces the 2021 independent contractor rule issued under former President Donald Trump, introducing a six-factor test to evaluate worker classification.

    But what exactly are these six factors, and how do they impact churches and workers alike? We break it down in this episode.

    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way biz owners

    A QuickStart Guide to Church Finances everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

    Join the BEST FaceBook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

    If you’re a church staff member or volunteer looking to serve your local church with excellence, check out my membership group The Bookkeepers Inner Circle @ www.bookkeepersInnerCircle.com

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
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    18 mins
  • Ep 59 ~ Understanding Federal Taxes for Ministers and Churches

    Ep 59 ~ Understanding Federal Taxes for Ministers and Churches
    Feb 28 2024

    Segment 1: Tax Realities

    • Ministers Pay Taxes: Dispelling myths.
    • Legal Truth: Courts reject tax exemption claims.
    • Cautionary Note: Risks of tax evasion.

    Segment 2: Ministerial Taxes 101

    • Tax Status: Ministers are self-employed.
    • Who's Qualified: Active licensed, ordained, or commissioned ministers.
    • Tax Responsibilities: Pay taxes through withholding or estimated payments.

    Segment 3: Compliance & Penalties

    • Filing Rules: Ministers must file if earning over $400.
    • Accuracy Matters: Penalties for wrong tax reporting.
    • Get Help: Advising professional tax assistance.

    Segment 4: Church Payroll Taxes

    • Get FEIN: Federal Employer Identification Number is essential.
    • How to Get FEIN: Fill Form SS-4.
    • EFTPS Registration: Needed for tax payments.

    Segment 5: Payroll Tax Basics

    • Federal Income Tax
    • Medicare Tax
    • Social Security Tax
    • Unemployment Taxes for Churches.
    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way biz owners

    A QuickStart Guide to Church Finances everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

    Join the BEST FaceBook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

    If you’re a church staff member or volunteer looking to serve your local church with excellence, check out my membership group The Bookkeepers Inner Circle @ www.bookkeepersInnerCircle.com

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
    Show More Show Less
    10 mins
  • Ep 58 ~ How to Properly Structure a Donation Acknowledgement Letter

    Ep 58 ~ How to Properly Structure a Donation Acknowledgement Letter
    Feb 21 2024

    Tax season is upon us, and with it comes the need for proper documentation. Improper donation receipts can cause headaches for both donors and organizations. In this episode, we'll dive into the essential elements of a donation acknowledgment letter to ensure compliance with IRS standards.

    Main Content:

    • Understanding IRS Requirements:
    • Explaining IRS guidelines for donors, including the need for timely written communication and recordkeeping.
    • Highlighting the responsibility of donors to obtain proper documentation for charitable contributions.
    • Church's Responsibilities:
    • Outlining the essential components of a donation acknowledgement letter, as specified by the IRS.
    • Emphasizing the importance of timely and accurate acknowledgement for contributions of $250 or more.
    • Crafting the Letter:
    • Providing a step-by-step guide for structuring a donation acknowledgement letter.
    • Discussing the format, content, and personalization techniques to enhance donor engagement.

    Conclusion: As we wrap up, remember the significance of accurate recordkeeping and timely acknowledgement in fostering trust and compliance. By following these guidelines, you can ensure that your organization meets IRS standards and cultivates strong relationships with donors.

    See links below that were referenced in this episode.

    IRS Publication 1771

    IRS Publication 526

    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way    biz owners

    A QuickStart Guide to Church Finances   everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

     

    Join the BEST FaceBook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

     

    If you’re a church staff member or volunteer looking to serve your local church with excellence, check out my membership group The Bookkeepers Inner Circle @ www.bookkeepersInnerCircle.com

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
    Show More Show Less
    14 mins
Leadership Economics Christianity Spirituality
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