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Author: Karen

Year-end Contributions 2021

Posted on December 23, 2021December 23, 2021 by Karen

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

Posted in Bookkeeping, Financial Reporting, Stewardship Tagged bookkeeping, contributions

Employee Retention Credit Updates

Posted on March 11, 2021April 6, 2021 by Karen

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

Posted in Uncategorized

Paycheck Protection Program – First and Second Draw

Posted on January 16, 2021January 16, 2021 by Karen

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

Posted in Uncategorized Tagged PPP

Paid Family & Medical Leave Opt-In Process

Posted on December 22, 2020January 17, 2021 by Karen

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

Posted in Payroll

Annual Massachusetts Health Insurance Reporting Requirement — due by December 15

Posted on December 1, 2020December 23, 2020 by Karen

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

Posted in Payroll Tagged Massachusetts

Another PPP Simplification

Posted on October 9, 2020October 9, 2020 by Karen

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

Posted in Payroll Tagged SBA PPP

Clergy Withholding and the new W-4

Posted on September 28, 2020May 12, 2022 by Karen

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

Posted in Payroll Tagged clergy, taxes

Monthly Zoom for Finance

Posted on September 9, 2020February 22, 2022 by Karen

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

Posted in Congregational Finance Leave a comment

Workers’ Compensation COVID-19 Savings

Posted on September 4, 2020September 4, 2020 by Karen

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

Posted in Congregational Finance, Payroll Tagged COVID-19, Workers Compensation

September 1 Payroll Tax Deferral

Posted on September 2, 2020September 4, 2020 by Karen

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

Posted in Payroll Tagged payroll

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