Category Archives: Accounting

Change in Overtime Rules Finalized

Late last year we posted that the Department of Labor had delayed some significant changes to the FLSA overtime rules. They have now finalized those changes and they are set to take effect on December 1, 2016.  The full details of the … Continue reading

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Change in Overtime Rules – Delayed

Earlier this summer the Department of Labor indicated that it would increase the minimum salary requirement for what are often referred to as the white-collar exemptions from overtime compensation.  These exemptions allow employees to not pay overtime to certain employees … Continue reading

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Employees vs. Independent Contractors

This summer the U.S. Department of Labor (DOL) issued Administrator’s Interpretation No. 2015-1, which discussed misclassification of employees as independent contractors.  Federal and state governments are beginning to take more initiative to investigate employers and businesses that wrongly classify their … Continue reading

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2014 Standard Mileage Rates

2014 Standard Mileage Rates The IRS has announced the standard mileage rates will go down slightly in 2014. Below are the new mileage rates starting 1/1/14: Business use of a vehicle– 56 cents per mile Medical and moving miles –23.5 … Continue reading

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More Scrutiny Over Independent Contractor Classification

Is your church properly classifying its workers as employees or independent contractors?  With the implementation of the Affordable Care Act the IRS will examine independent contractor classifications more carefully and the penalties and fees for mis-classification can sky rocket.  The … Continue reading

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Healthcare Implementation Delayed

Healthcare Implementation Delayed This isn’t “new” news anymore, but as we haven’t been on the blog in a while, we thought it important enough to post even if a bit delayed.  As you may be heard, the federal government has … Continue reading

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Does the Affordable Care Act apply to your ministry?

We get asked this question a good amount as the law goes into effect  less than a year from now.  The very first place we go to answer that question is to determine if the ministry is a “Large Employer” … Continue reading

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It’s 1099 Season here at ChurchShield

As the end of the year approaches, don’t forget that 1099’s are due January 31st.  Our accounting department uses December to review which vendors our clients are missing W-9’s for so that we can get them collected them prior to … Continue reading

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2013 Standard Mileage Rates

The standard mileage rate will increase 1 cent per mile on January 1, 2013 to 56.5 cents per mile. Medical and moving rates will also increase 1 center per mile to 24 cents per miles. The per mile rate for … Continue reading

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Do your volunteers’ hours constitute non-cash revenue?

The recognition of volunteer labor as non-cash revenue is dictated by FASB ASC 958-605-25-16, Contributed Services.  This standard dictates that if the services (a) create or enhance non-financial assets or (b) require specialized skills, are performed by people with those … Continue reading

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