This is an amazing time to reflect on all the things God has done for your church as well as dream and plan for what is to come. With the upcoming year, it’s important to wrap up 2018’s tax and administrative responsibilities so you can start your new year off right. For your convenience, we have created a checklist of 3 important tasks your organization should do before entering the new year.
New Law:
First, there is a law that was passed earlier this year that no longer allows employees to write-off unreimbursed expenses on their personal taxes. You can find this law change from the IRS here. To make sure you and your employees are in compliance with this new law, it is highly recommended that you have an Accountable Reimbursement Policy. Without an Accountable Reimbursement Policy in place, reimbursements are considered non-accountable; this means employees will not be able to count their business expenses on their individual tax returns.
Financial Security:
Secondly, the end of the year is a great time to reconcile your church books. This ensures that everything is accounted for, including reimbursements, and sets your church up for a great financial future.
Digital Presence:
Lastly, another great start to the new year is to have your church website updated, or if you don’t have one, to get a site up and running. Building a website has never been easier. Having an online presence in this day and age is so crucial. It also helps you to receive donations online.
Shelby Systems has decades of experience working with ministries of all sizes, for help implementing these suggestions contact your Shelby Sales Consultant today!