by churchshie | Jan 25, 2013 | Accounting, Economy, Healthcare
We get asked this question a good amount as the law goes into effect less than a year from now. The very first place we go to answer that question is to determine if the ministry is a “Large Employer” and therefore, likely subject to the law. To be considered a...
by churchshie | Jul 11, 2012 | Accounting, Congress, Economy, Healthcare, Tax
One of the main provisions from the Patient Protection and Affordable Care Act (A.K.A. the healthcare bill, Obamacare) that will affect churches and ministries the most is the tax credit for eligible small businesses and small tax exempt organizations. The credit will...
by churchshie | Apr 3, 2012 | Accounting, Economy, Tax
The minutes from the March 13th Federal Open Market Committee (FOMC) meeting were released today, and the idea of a fourth round of asset purchases (a.k.a. quantitative easing) seems to be no more than a remote possibility. The FOMC is the policy making committee of...
by churchshie | Apr 3, 2012 | Accounting, Economy, Tax
New studies highlighted in a New York Times article today show that “…the recent recession may have brought about an enduring shift in the geography of American growth.” It goes on to say that, “Various kinds of economic activity, including...
by churchshie | Mar 26, 2012 | Accounting, Economy, Tax
Earlier this month a U.S. district court granted the IRS an injunction against a church leader who was advising other ministers of his church (incorrectly) that they didn’t need to pay taxes to the IRS. The defendant was advising these ministers to take a vow of...
by churchshie | Mar 13, 2012 | Accounting, Economy, Tax
The Commerce Department released their monthly retail sales figures for February showing a 1.1% increase in sales from the previous month, and a 6.5% increase from the same period a year earlier. Sales numbers from January were also revised up 0.4%. These figures are...
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