Your church has hired a new employee.  Do you know what forms you are required to have on file for each employee?  Are you required to withhold payroll taxes? 

Read more to see if you are handling your payroll correctly…..

 

When asking the question, “Do you have any Unrelated Business Income (UBIT)?” Most churches say, “What are you talking about?”

To learn about tax on income-producing activities, net income, exceptions to UBIT and examples of unrelated trade or business activities, click here.

Did you know that taking care of an elderly individual involves tax aspects? It is important to understand what you can and cannot claim on your filing status as well as how medical expenses are filed.

To learn more about dependent care credit, exclusion of payment and dependency exemption, click here.

At Summit Tax & Accounting, we strive to reach all of our church and clergy members through various communication channels.
This month, we are excited to announce the launch of our Church Accounting Facebook page! Please “like” us on Facebook at www.Facebook.com/SummitTaxAccounting. We encourage you to spread the good word with your friends and family. Check back regularly for tips on church accounting, best practices, FAQs, and much more!

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.

PowerChurch and Church Accountability by the Book are now available via webinar!
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 and register today for a seminar near you!