Alabama Baptist Convention State Board of Missions
Monday, September 06, 2010
Great Commission Ministries

Church Compensation Services

Meet Your Missionary
State Missionary Lee Wright, Alabama Baptist State Board of Missions, Montgomery, Alabama, 1-800-264-1225, ext. 342 Lee Wright - Coordinator - ext. 241, lwright@alsbom.org - View Bio
Meet Your Ministry Assistant
 
Nancy Cornett - Ministry Assistant - ext. 208, ncornett@alsbom.org
 
2009-2010 Layman's Salary Study Committee Report Released
Watch for the 2010-2011 LSS coming soon.  Until then, the Alabama data and the national data can be obtained by clicking the link to the national study. Click to view the 2009 Alabama report or click here for the national study
Social Security COLA: 2010 - 0.0%
See also:  Bureau of Labor Statistics - www.bls.gov
 

 

Financial Issues Conference

Shocco Springs
Sept. 10-11, 2010
 

Some Topics to be offered:
• New Health Care Legislation: What We Know So Far
• Effective Payroll Administration: W-2, 1099, 941, Etc.
•What is Taxable Income?
• Accountable vs Non-accountable Expense
Reimbursements Plans
• Housing Allowance: What Is It and How to Calculate and Substantiate
• Charitable Contributions: 6 IRS Requirements
• Basic Internal Controls
• Financial Policies

Download the conference schedule here.

To register: call Shocco Springs at 1-800-280-1105 or go to www.shocco.org/reser

Financial Issues Conference/South
(mini version of Financial Issues Conference)

Whispering Pines Conference Center, Mobile Baptist Association Sept. 24-25, 2010

Time: Begins 4:00 pm on Friday and concludes with lunch on Saturday

Some Topics to be offered:
• New Health Care Legislation: What We Know So Far
• Effective Payroll Administration: W-2, 1099, 941, Etc.
• What is Taxable Income?
• Accountable vs Non-accountable Expense Reimbursements Plans
• Housing Allowance: What Is It and How to Calculate and Substantiate
• Charitable Contributions: 6 IRS Requirements
• Basic Internal Controls
• Financial Policies

For cost and registration, contact Beverly Davis, 251-866-7868 or Beverly@campwhisperingpines.com

 

How this Office Can Help Your Church

Here are just a few of the ministry assignments handled by Church Compensation Services. If we can assist your church in any of these areas, we invite you to call us or e-mail us for more information.
  1. Tax Issues for Church & Minister
  2. Compensation Planning
    • Minister’s Compensation Planning
    • Salaries
    • Housing Allowance
    • Benefits
  3. Retirement Planning
  4. Financial Issues
  5. Insurance
    • Employees: Health, Life. Disability, Accident, and Dental
    • Churches: Property, Casualty, Liability, Malpractice, Directors' and Vehicle
  6. Legal Issues

 Articles
Help your pastor pay less in taxes
Charitable Contributions
Internal Controls
Bivocational Pastor Compensation
2010 New Developments for Employers


 
Did you owe money to the IRS this Year?
Contribute to the Church Retirement Plan
For more information, CLICK HERE.
Conferences from this office 
For more information about any of the following conferences, or to schedule your event, call Nancy Cornett at 1-800-264-1225, ext. 208 or send email to ncornett@alsbom.org.

Tax Conference:
Conference Goal: To assist ministers, staff, and employees with the greatest tax savings and the church with the greatest stewardship of funds.
 
 
 
EARLY BIRD TAX CONFERENCE, Dec. 7 at the Baptist Building in Montgomery. 

Investment and Retirement Planning Principals:

Conference Goal: To counsel active members and interested investors to develop proper investment and retirement planning principles to achieve their desired goals.
Retirement Choices:
Conference Goal: Provide counsel on the best choices available for
GuideStone
retirement plan participants approaching retirement.
10 Common Financial Mistakes Made By Ministers:
Conference Goal:To help ministers eliminate 10 common financial mistake and establish sound fundamental financial planning principles.
 

Secretaries Conference:
The Church Retirement Plan is for all employees of Southern Baptist churches, associations and other special ministries. Secretaries are one significant group who benefit from the investment options.
Secretaries like all other employees can also benefit from State Board of Missions coverage and contributions. If the secretary is eligible, the State Board of Missions may provide disability protection and survivor benefits.


Year-End Checklist for Church Treasurers
  • Housing allowance. The personnel or stewardship committee (or the congregation) should designate a housing allowance for 2008 for ministers who own or rent their home (and for ministers who live in a parsonage and who pay some of their housing expenses). A sample housing allowance resolution is available at www.GuideStone.org.
  • Required Forms. All employees should review their W-4 form, and A-4 form and submit a new form if circumstances have changed. Children under 18 need new work permits.
  • Notice to donors. Richard Hammer suggests “Donors should be advised in the church bulletin or newsletter, or in a letter from the church, not to file their federal income tax return before they receive their contribution summary from the church. Donors may not be able to deduct individual contributions of $250 or more if they file a tax return before receiving a contribution summary from their church.”  
        “A contribution is effective when delivered. This means that a check deposited in the church offering in January of 2008 cannot be deducted in 2007 even lit is backdated to 2007. One exception—checks that are mailed and postmarked in 2007 are deductible in 2007 even though not received until 2008.” Church Law and Tax Report,
    www.ChurchLawToday.com
  • Christmas gifts and love offerings. Christmas gifts made by the church or congregation to a minister or lay staff member are taxable income and not a tax-free gift, and must be reported as income on the recipient’s W-2 or 1099.
  • Business expenses. If you have an accountable reimbursement plan for your minister, and there is a balance left in the account at the end of the year, do not give the balance to the minister. If you do, it will make all reimbursements for the year taxable income.
For more information about any of the preceding conferences Call Nancy Cornett at 1-800-264-1225, ext. 208 or send email to ncornett@alsbom.org.