Year-end Contributions 2021
As the end of the year approaches, it is important to document contributions properly, so that donors may deduct the charitable contribution on their income tax return. This is especially
Author: Karen
Employee Retention Credit Updates
As the COVID-19 pandemic has continued into 2021, the COVID-19 Relief that was signed on December 27, 2020 has changed the Employee Retention Credit, expanding it and making it more
Paycheck Protection Program – First and Second Draw
In late December, Congress passed Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, establishing parameters for expanding the Paycheck Protection Program to reopen it for initial loans
Paid Family & Medical Leave Opt-In Process
We have just received information on the process for a church or religious organization to opt in to the program, as posted on the PFML website: If you are
Annual Massachusetts Health Insurance Reporting Requirement — due by December 15
Health Insurance reform has changed from year to year, at both the federal and state levels. Effective November 2018, any Massachusetts employer with six or more employees is required to
Another PPP Simplification
On October 8th, the SBA released Form3508S, to be used by employers whose PPP loans were $50,000 or less. This form asks for your verification that all of the
Clergy Withholding and the new W-4
According to IRS rules, income tax withholding for ministers is voluntary. If you do not complete a W-4 form, or if you indicate “exempt”, no federal tax will be
Monthly Zoom for Finance
We host a monthly opportunity for treasurers, administrators, or clergy to meet to share questions or ideas on financial topics of interest. Usually third Thursdays, at 11am Eastern time. You
Workers’ Compensation COVID-19 Savings
If you (as a Massachusetts employer) paid any of your employees or 1099 contractors for time that you were closed due to COVID-19 and they were not performing any work
September 1 Payroll Tax Deferral
On August 8th, President Trump declared that he was deferring the collection of the employee portion of FICA, a 6.2% payroll tax that funds retirement and disability payments to American