Issue 31-3 – Columnist Forum – Delano Sherley – 2021 Trends
2021 Trends A recent article listed the following trends emerging in 2021: many in ministry will move from full-time to…
Fraud
Each year, the amount of money stolen from churches exceeds what churches give to missions. Let than sink in. 30%…
Form 1099-NEC or Form 1099-MISC
Historically, when you have paid $600 or more during a year to a nonemployee, you were required to file Form…
Delano Sherley – Tax Law Changes
Tax Law Changes Here are changes to the tax code that were part of the CARES Act: If you were…
Delano Sherley – Still The Same
Still The Same Much has been written regarding the CARES Act and the PPP loan & EIDL programs. I have…
Delano Sherley – Tax Refunds
Tax Refunds 75% of Americans received a refund last year, with an average refund of $2,881. You’ve heard it before…
Parking Tax Repealed – Delano Sherley
Parking Tax Repealed – by Delano Sherley In late 2018, we wrote about a new tax that churches had to…
Delano Sherley – 2020 Mileage Rates and HSA Limits
The IHS has released the new mileage reimbursement rates for 2020. For business related travel, the new rate is $0.575…
Delano Sherley – 2020 Retirement Contribution Limits
The Treasury Department has announced the 2020 limits for retirement accounts: The amount you can contribute to your 401(k),…
Delano Sherley – Tax Scams
Tax scams run year-round. You may receive a telephone call claiming to be someone from the IRS. The call usually…
Delano Sherley – Health Insurance Update
Starting January 1, 2020 employers can offer a new HRA called the Individual Coverage HRA, or ICHRA. This allows you…
Delano Sherley – Donated Stocks
Delano Sherley Is your church set up to receive donated stocks? Donors may prefer to donate stock directly to the…