Webinars on Demand
Watch recordings of past webinars at your convenience
The New 2024 Overtime Rule (DOL)
Overview of Recent Increase of Minimum Wage Salary:
How this will affect –
- Salary requirements for exempt employees
- Employees who work in Washington state
- Ministers who qualify for ministerial exception
Overview of Labor Laws From:
- Fair Labor Standards Act (FLSA)
- Washington Minimum Wage Act (WMWA)
- Ministerial exception
Health Care: De-Complexing the Complex
- The state of health care costs:
– 2010 – 2023 an historic perspective
– Health care costs in Washington
– Financial pressure from prescriptions
- Marketplace Choices:
– The choices employers have
– Federally sponsored reimbursement strategies
- Organizational Fit: Which one is right for your organization:
– Details and differences of each strategy
– Accounting and reporting requirements
– Questions to ask about your organization
Owning or Living in a Parsonage/Rectory
- Washington State Property Tax:
– Requirements for exemption of the residence
– What happens when the residence is no longer used for clergy or caretakers
– How to establish, maintain, or reestablish tax exemption that has been lost
- IRS Reporting & Requirements for the Organization
– When the residence is no longer used for clergy or caretakers
– How to compute and report value of th residence to employees
– Taxation of rental income generated from staff members
- IRS Reporting & Requirements for Clergy, Caretakers, and Other Staff
– Determining value
– Form W-2 reporting
– Coordination with housing allowance paid to clergy
2023 Receipting Charitable Contributions
- What is required when receipting donors for various contributions?
- When are contributions deductible?
- How are contributions from IRAs, stocks, vehicle, or other noncash contributions receipted differently?
- How are out-of-pocket expenses for unreimbursed travel receipted?
- When are restricted donations deductible and non-deductible as a charitable contribution?
- What are special requirements for deducting benevolence, scholarship, and missionary gifts?
IRS and WA State 2023 Year-End Reporting for Ministries and Nonprofits
- IRS Reporting
- When and what to file on Forms 1099-NEC and 1099-MISC
- 2023 Form W-2 changes since last year
- Common types of income required to be reported on Form 990-T
- Form I-9 when hiring new employees
Preparing for 2024 (IRS Requirements)
- Designating housing allowances
- Contributions or payments to foreign persons or organizations
- Employee help adjusting tax withholding with Form W-4
WA State Reporting
- Reporting Sales, Use and B&O taxes
- When uncashed checks are required to be reported
- What can be done to maintain a property tax exemption
Payroll Taxes for Churches and Ministries
- Unique church and ministry tax considerations for employers and employees
- Federal taxes
- Form 941
- FICA (Social Security and Medicare taxes)
- Minister’s coverage under Social Security and Medicare
- WA State
- Labor & Industries (L&I)
- Paid Family Medical Leave (PFML)
- WA Cares Fund
Part 3 – Employee Compensation Rules for Churches and Ministries
- Ministerial Exception, continued:
- the spiritual role of an employee and their job duties
- Roles allowed under the ministerial exception
- Stipends and Internships
- Paying volunteers
- Key components of employee handbooks:
- Compliance with Federal and State laws
- Dispute resolution
- Severance agreements
Part 2 – Employee Compensation Rules for Churches and Ministries
- Washington Minimum Wage Act, continued:
- Non-exempt workers
- Paying minors
- Penalties for failure to pay overtime
- Paid time outside of the workplace
- Ministerial Exception:
- The two components: tax purposes and first amendment rights
- Difference between wage laws and employment laws
- What religious duties qualify
- Case example: Woods vs. Gospel Mission
- Importance of clearly defined standardized practices
The Current Economy and Its Impact on Nonprofits
- What changes have been happening in the economy that are affecting nonprofit organizations?
- What potential impact this might have on donors.
- How nonprofits can respond to the current environment.
- Some practical steps nonprofits can make to be better positioned.
- What financially healthy nonprofits might look like.
- What are the implications of rising interest rates?
- Indicators of a struggling ministry and how to mitigate this.
Auditing Your Own Ministry
(Free)
- What red flags might indicate financial problems?
- What elements should we include in financial reports?
- What are senior leaders’ responsibilities and liabilities?
- How can we implement and monitor cash receipts and disbursement controls?
- How can we monitor the accuracy of financial reports?
- What qualifications should we look for in those performing the self-audit?
WA State Sales and B&O Taxes for Nonprofits
(Free)
- Camp and retreat registration fees
- Class & activity registrations
- Wedding and other facility fees
- Bookstore and website sales
- Tuition fees – schools and daycare
- Out of state online purchases and sales
- Cell tower rental fees
- Rental of parking spaces
Pastor Income Taxes
(Free)
- Structuring a minister’s compensation plan to minimize taxes
- Differences between minister and lay person taxes
- Housing & auto allowance
- FICA vs self employment taxes
- 403(b) retirement contributions
- Opting out of Social Security
Sending Funds to Foreign Causes & Compensating Foreigners
(Free)
- What charities should know when sending money overseas to:
- A USA 501(c)(3) organization doing missions or relief work
- A foreign organization
- An individual who is a nonresident alien
- A missionary who is a US citizen
- A nonresident alien who comes to the USA to do the work
Benevolence and Outreach – Learn How to Give With Compassion While Being Compliant
(Free)
- What is benevolence and outreach as defined by the IRS
- Distinguishing between benevolence and outreach
- The requirements for charitable organization and individual donors
- Five common benevolence fund mistakes
- Benevolence and outreach best practices
- Tax reporting for recipients
Budgeting and Managing Cash Reserves
(Free)
- Learn to move from a static budget to a dynamic one that includes cash flow projections and planning.
- Discover “missional” budgeting – a way to measure if your organization is accomplishing its mission.
- Learn how to manage financial resources to meet your obligations and accomplish your mission.
- Examine the four areas of liquidity and how they can work together for optimum financial health.
Housing Allowance Tax Benefit for Ministers
(Free)
- Who is eligible?
- Who can designate a minister housing allowance?
- When to set parsonage and housing allowances.
- How to set parsonage and housing allowances.
- Which housing expenses qualify?
- Tax implications of housing allowance.
Renting Property (Part 1) – WA State B&O and IRS Tax Issues for Nonprofits
(Free)
- When does rental income becomes taxable?
- Rental income reporting requirements.
- What Washington State and IRS rental income tax exemptions can be obtained for nonprofit organizations?
- Rules for rental of parking spaces and cell towers.
Renting Property (Part 2) – WA State B&O and IRS Tax Issues for Nonprofits
(Free)
-
Discussion of rental of houses, commercial space, rooms in facility, parking spaces, and cell towers.
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·Easy to use “yes/no” decision trees for determining:
-
When rental income becomes taxable
-
When rental income tax exemptions are available for nonprofit organizations for Washington State and the IRS
-
WA State Exempt Property Tax Issues
(Free)
- How your organization can qualify for and maintain a property tax exemption.
- Which types of activities are allowed under a property tax exemption?
- Recent changes to Washington limitations and requirements.
- We’ll also discuss several examples of whether a property tax exemption can be maintained.
Download Our Free Guide
How to Maximize the Tax Benefits of Working from Home
6 Critical Questions Asked by Employees and Employers
There are tax benefits available to those who are working from home that you do not want to miss. This free resource will help you make the most of them.
Tax and accounting regulations are complex and changing faster than ever, and the confusion is distracting. At Battershell & Nichols, we come alongside you as a trusted advisor to provide clarity and solutions so you can focus on what matters most. Read More
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