Delano Sherley Is your church set up to receive donated stocks? Donors may prefer to donate stock directly to the church, rather than sell and donate the cash. By donating… Click To Read More "Delano Sherley – Donated Stocks"
New in 2019 is an accounting rule change regarding how leases are recorded on your financial statements. This is especially relevant if you are required (i.e., as a condition of… Click To Read More "Delano Sherley – Begin to Prepare for 2019 Financial Statements"
President Trump recently signed the Taxpayer First Act into law. This bill will overhaul certain areas of the Internal Revenue Service, including the Office of Appeals. It is meant to… Click To Read More "Delano Sherley – IRS Reform"
We all have been watching the outcome of the 2017 lawsuit in Wisconsin that challenged the constitutionality of the ministers’ housing allowance. In March of this year, the Seventh Circuit… Click To Read More "Delano Sherley – Update on Housing Allowance"
We routinely recommend that churches install a security camera system. Having one protects the church attendees and church property. It also acts as a deterrent to would-be thieves. Ideally, any… Click To Read More "Delano Sherley – Security Cameras"
Last November, we reported on the need to protect your identity by putting a freeze on your credit. Beginning September 21, 2018, there is no longer a fee to do… Click To Read More "Delano Sherley – Credit Freeze Update"
Is your church required to file a tax return? Due to the recent tax law change, the answer is probably yes. We are just now starting to hear about how… Click To Read More "Delano Sherley – Required To File A Tax Return?"
While most accounting software for business use includes financial reports such as the balance sheet and the income statement, many do not include the cash flow statement. For many churches,… Click To Read More "Delano Sherley – Cash Flow Statement"
Churches can save a significant amount on the cost of computer hardware and software. Many companies provide a discount to nonprofits. TechSoup is a company that provides discounts on many… Click To Read More "Delano Sherley – Cost Savings (Continued)"
Most businesses lease a copier, upgrading every 3-5 years. There are two types of leases: fair market value lease (FMV), where if you choose to buy the copier at the… Click To Read More "Delano Sherley – Cost Savings (Continued)"
Utilities make up a significant portion of a church’s annual budget. Updating the HVAC systems and installing cost-saving light fixtures can significantly reduce the amount a church spends on gas… Click To Read More "Delano Sherley – Cost Savings (Continued)"
Long-Term Planning
By Delano Sherley As the year comes to a close, hopefully you have completed the budget for 2018. With the seemingly never ending demand for funds by each department and… Click To Read More "Long-Term Planning"