Whew, another year for the record books!

 

Sadly, some churches and nonprofits really faced some stiff obstacles this year and had to close their doors as a result. For those of you facing that heart-rending prospect, PLEASE be aware that you cannot just close the doors and "split" the profits or give them all to the founding minister. It is against the law. PLEASE hire an knowledgeable attorney to assist in the closing and make sure all is done correctly.

 

For those of you that will be continuing on... please take a moment to make sure all your ducks are in a row and everything is ready for the new year ... such as designating the housing allowance for your minister for the upcoming year, reviewing employee W-4s, and making sure that all revenue and expenses are accounted for prior to closing the books.

 

NOTE: you may also want to inform your donors of  "tax deductions up to $600 available for cash donations by non-itemizers"! 

 

Read more about that tax credit and important year end follow ups and reminders ...

 

Church and nonprofit bookkeeping is my specialty and my passion! I know....I'm a bit of a nerd =) But I really do enjoying keeping clean efficient books for my clients.

 

In my line of work, I see quite a few bookkeeping errors that could be avoided if the one doing the books would have know how to do it correctly in the first place.

So I have put together a few tips for you that keep books for churches and nonprofits. See what NOT to do and tips on doing it correctly...