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Вміст надано Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
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Ep 28 ~ Helping Those in Need with Intentional Benevolence Giving

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Manage episode 365815849 series 3453775
Вміст надано Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

Benevolence Funds, specifically, how do you handle them when collecting for a specific person in need will be discussed in today's episode.

The IRS has set guidelines regarding this situation and we will cover those today including Revenue Ruling 62-113.

We discussed the IRS cap on benevolence being given before it becomes taxable to the receiver in 2023.

We also touched upon the fact that ANY benevolence given to employees or members of the employees family is not considered true benevolence and IS reported as taxable income.

Another point we covered was making sure that your benevolence procedures are followed in compliance with your official Benevolence policy.

Additionally, we verified that donations earmarked for an individual are NOT tax deductible to the donor UNLESS there is an understanding that all donations received will be used by the church in a manner that is consistent with their purpose and mission and may be used for a different purpose should the church decide. The church must retain total control of how the funds are spent, regardless of the donor's request.

Take a listen to learn all the details! xo, Michelle Next Steps: Grab Your Freebies:

https://churchfinances.ck.page/6steps biz owners

https://churchfinances.ck.page/guide everybody Schedule a Consultation:

https://churchfinances.org/bizconsult biz owners

https://churchfinances.org/consult church staff/volunteer

Join the FB Community: www.facebook.com/groups/churchbookkeepingandclergytax

  continue reading

62 епізодів

Artwork
iconПоширити
 
Manage episode 365815849 series 3453775
Вміст надано Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

Benevolence Funds, specifically, how do you handle them when collecting for a specific person in need will be discussed in today's episode.

The IRS has set guidelines regarding this situation and we will cover those today including Revenue Ruling 62-113.

We discussed the IRS cap on benevolence being given before it becomes taxable to the receiver in 2023.

We also touched upon the fact that ANY benevolence given to employees or members of the employees family is not considered true benevolence and IS reported as taxable income.

Another point we covered was making sure that your benevolence procedures are followed in compliance with your official Benevolence policy.

Additionally, we verified that donations earmarked for an individual are NOT tax deductible to the donor UNLESS there is an understanding that all donations received will be used by the church in a manner that is consistent with their purpose and mission and may be used for a different purpose should the church decide. The church must retain total control of how the funds are spent, regardless of the donor's request.

Take a listen to learn all the details! xo, Michelle Next Steps: Grab Your Freebies:

https://churchfinances.ck.page/6steps biz owners

https://churchfinances.ck.page/guide everybody Schedule a Consultation:

https://churchfinances.org/bizconsult biz owners

https://churchfinances.org/consult church staff/volunteer

Join the FB Community: www.facebook.com/groups/churchbookkeepingandclergytax

  continue reading

62 епізодів

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