Welcome to January!  You are working on the year end as well as getting ready for the new year.  What do you need to remember to do?  Read more to get a helpful year end and new year checklist.

The structure of the organization government is an important tool in the administrative life of the church.  The structure is responsible for the finances and spiritual welfare of the organization through varied programs and ministries.

Directors and officers have a legal duty that assumes they have adequate knowledge of the organizations articles of incorporation, bylaws, polices, procedures, and board resolutions.  Every director and officer has the responsibility to be loyal to the organization.  Any proposed contract between and officer and the organization must be carefully reviewed to ensure compliance with state law and not a personal conflict.  Organizations need to establish a conflict of interest policy. Click here for more information on Church Governments.

If you're eligible, the credit not only reduces the tax that you may owe but also may result in IRS sending you a refund for more than the amount of tax that was withheld from you.

In general, you qualify for the credit if your income doesn't exceed the amounts specified. The credit starts to phase out before it reaches those levels, but the phase out starting points increase annually for inflation. To learn more about Earned Income Credits click here.

For years, Summit Tax & Accounting, LLC has conducted seminars throughout the state of Illinois, providing comprehensive and timely information in an understandable format for religious and nonprofit organizations.

We are happy to announce our WEBINAR series:  PowerChurch and Church Accountability by the Book. Now you can access this important information 24 hours a day, 7 days a week from the comfort of your home, office, church or gathering place. Subscribe today! Purchase the entire series, or only the chapters you need for review.

Still looking to attend a seminar this year, view our online schedule.