Business Notes - from the desk of Wanda Daubenmeyer
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Latest News:
- Standard Mileage Rate Increase on July 1, 2011
The IRS has announced an increase in the optional
standard mileage rates for the final six months of 2011.
Due to recent gasoline price increases, the IRS has
increased the standard business mileage rate from 51
cents to 55.5 cents a mile for all business miles driven
from July 1 through December 31, 2011. The rate for
deductible medical or moving expenses increases from
19 cents to 23.5 cents a mile.
Note: The rate for
providing services for charitable organizations is set
by statute, not the IRS, and remains at 14 cents a mile. Click here for more details.
- Presbytery Financial Report
Updates
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Benefits
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Budget & Finance
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Forms
Here are some of the business forms you may need to use from our office.
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Insurance Matters
Brotherhood Mutual Insurance extends a special offer to our churches with the Partnership Group Program.
Click here for details. |
IRS & Tax
- IRS Standard Mileage Rate
- July 1, 2011 Rate Increase
The IRS has announced an increase in the optional
standard mileage rates for the final six months of 2011.
Due to recent gasoline price increases, the IRS has
increased the standard business mileage rate from 51
cents to 55.5 cents a mile for all business miles driven
from July 1 through December 31, 2011. The rate for
deductible medical or moving expenses increases from
19 cents to 23.5 cents a mile.
Note: The rate for
providing services for charitable organizations is set
by statute, not the IRS, and remains at 14 cents a mile.
- Jan. 1 2011 Rate Change
- Standard Mileage Rate History
- 2010 Tax Tips Year-End Items from BOP
- Richard Hammar's 10-step year-end checklist for designed for treasurers that is also helpful to active ministers and middle governing body leaders
- Two key articles from the Board's 2010 Church Treasurers and Business Administrators newsletter related to reporting salary changes in Benefits Connect and a reminder to update Retirement Savings Plan adoption agreements as needed.
- Tax Guide for Ministers and Churches from BOP
- Church and Clergy Tax Guide from Your Church Resources
- Church Law & Tax Update (TWICE MONTHLY)-FREE E-newsletter from Christianity Today
Keep yourself informed on the legal trends and breaking developments that affect church leaders.
- New IRS Guidelines for Ministers-2009
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The IRS guidelines can be difficult to follow sometimes. Easy to understand details of the above information can be found in the Church Law & Tax Report November/December issue (subscription required). Also, if you would like further information you may order the 2010 Church & Clergy Tax Guide from http://store.churchlawtodaystore.com/20chcltaxguf.html
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New changes to 403(b) plans effective January 1, 2009
A 403(b) tax-sheltered annuity (TSA) plan is a retirement plan offered to tax-exempt organizations, including churches. Any organization with a 403(b) plan must establish a written plan by January 1, 2009. For more information on the new regulations and how they affect you, contact Wanda Daubenmeyer at 336-766-3393 ext. 125 or by email at wdaubenmeyer@salempresbytery.org
See the IRS page for more information on 403(b) plans: http://www.irs.gov/retirement/article/0,,id=172430,00.html
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Legal
Legal Resource Manual for Presbyterian Church (U.S.A.) Middle Governing Bodies and Churches - Third edition (2010)
The Legal Resource Manual for Presbyterian Church (U.S.A.) Middle Governing Bodies and Churches is an excellent, free, downloadable resource on the PCUSA web site. You can also download the PDF by clicking here.
Be certain to consult your local attorney for legal advice and expert assistance. While the information in this resource Manual should be a helpful guide, it cannot substitute for your local counsel familiar with the law and facts of your particular situation. The laws, of course, continue to change. Your local counsel will ensure the current law is applied to your needs.
Table of Contents:
- Introduction
- Section 1: Basic Organization of the Presbyterian Church (U.S.A.)
- Section 2: Property
- Section 3: Incorporation and Boards of Trustees
- Section 4: Copyright and Trademark
- Section 5: Contracts
- Section 6: Personnel and Employment Matters
- Section 7: Immigration
- Section 8: Taxation
- Section 9: Risk Management
- Section 10: Estates and Planned Giving
- Section 11: Other Resources
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Visit the legal library
Churchlawtoday.com is the most extensive online legal library specifically for churches and clergy. Sign up today to receive a discounted rate of $50 per year (regularly $78) including the invaluable newsletter Church Finance Today. Membership includes access for all members of your congregation.
Sign up now by visiting https://secure.christianitytoday.com/cltr/register.php and completing the following steps:
- Scroll down to the group membership options
- Enter Umbrella Group ID: cft909 and click next (for discounted price)
- Fill in registration form
Click here for more details about Church Finance Today |
Software Recommendations for Church Finances
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Stewardship/Pledges
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Treasurers
- Need a Benevolence form? Click here.
- Complete your church's pledge card if you have not done so for 2011 already.
- 2010 contributions were accepted until January 7th, 2011. Everything submitted afterwards will be counted for 2011.
- Acts 16:5 monthly payments to Salem Presbytery must be written on a separate check. Please do not include the total with your benevolences.
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Extras
- YOUR CHURCH NEWSLETTER (EVERY OTHER WEEK)
FREE E-newsletter Click here
Find support, information and tips to help you with all areas of the business side of ministry.
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The Salem Presbytery website seeks to post information affecting its
constituent churches; however, the posting of such events does not indicate that
the Presbytery does or does not endorse the event. We do not post
editorial submissions from our churches though we do provide links to their
websites and other appropriate websites when available.
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