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Church Finance Today

November 2017
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Feature Article

Helping Boards Set Pastoral Compensation

Helping Boards Set Pastoral Compensation Member access only

What church leaders should know about paying pastors.

Articles

Tax Calendar

Tax Calendar

Important deadlines for churches and ministers

December 15, 2017

  • Clergy and other church staff should complete all year-end transactions to be sure such transactions are reportable on their income tax returns.
  • A church must make quarterly estimated tax payments if it expects an unrelated business income tax liability for the year to be $500 or more. Use IRS Form 990-W to figure your estimated taxes. Quarterly estimated tax payments of one-fourth of the total tax liability are due by April 15, June 15, September 15, and December 15, 2017, for churches on a calendar-year basis. Deposit quarterly tax payments electronically using the EFTPS system.

December 31, 2017

  • Churches must designate a portion of each minister’s compensation as a housing allowance by this date in order for ministers who own or rent their homes to receive the full benefit of a housing allowance exclusion for calendar year 2018. The designation should be adopted during a regular or special meeting of the church board, and should be contained in the written minutes of the meeting.

Monthly requirements, November/December 2017

If your church or organization reported withheld taxes of $50,000 or less during the most recent lookback period (for 2017 the lookback period is July ...

Semiweekly requirements, November/December 2017

If your church or organization reported withheld taxes of more than $50,000 during the most recent lookback period (for 2017 the lookback period is July ...

November 10, 2017

  • Churches having nonminister employees (or one or more ministers who report their federal income taxes as employees and who have elected voluntary withholding) may file their employer’s quarterly federal tax return (Form 941) by this date instead of October 31 if all taxes for the third calendar quarter have been deposited in full and on time.

How should items donated for a silent auction be treated for tax purposes? Member access only

Can Christians Substitute Volunteering for Financial Giving?

Can Christians Substitute Volunteering for Financial Giving?

Infographic: Pastors and congregants don't see eye to eye.

ChurchSalary

ChurchSalary

Experience a whole new way to set compensation. Eliminate the guesswork – get access to detailed compensation reports in just minutes.

Liability & Church and State Issues: Volume 4 of Pastor, Church & Law

Liability & Church and State Issues: Volume 4 of Pastor, Church & Law Member access only

Learn which local, state, and federal laws apply to religious organizations.
Best Practices for Receiving Charitable Contributions

Best Practices for Receiving Charitable Contributions  Member access only

Practical help and clear understanding on issues surrounding charitable contributions.