CAN YOU WITHSTAND A CHURCH AUDIT?
For many years churches have been under major scrutiny. Many of us have only seen the mega churches under scrutiny in the media but small churches are often at risk as well. Contrary to popular belief churches can be and are audited by the IRS. It is our strong desire that your church be ready. We tailor our services to accomplish success for you on every level.
What We Will Do For You
- Review your programs to ensure that you have documentation that supports your exempt status.
- Work with your Board to ensure best practices and due diligence
- Review your records retention policy and to make sure your current storage system aligns with that policy and make revisions if necessary
- Make sure that your paid workers are classified correctly…contract vs. employee. This is a big sticking point with the IRS
- Assist you with payroll tax filings
- Review for unrelated business income that should be filed. Many times churches have income that is considered unrelated to your exempt status but are unaware. We will make sure that you are not in jeopardy of failing to file.
- Make sure your information filing is up to date. Even though churches aren’t normally required to pay taxes an information return must be filed annually. Failure to file could result in the revocation of your nonprofit status.
- Structure your Pastor’s salary so that he/she get’s the maximum benefit of a housing allowance even if your church doesn’t have a church owned parish.
- Review your accounting policies and procedures to ensure separation of duties and proper recording
- Structure your counting and collections procedures to ensure maximum protection of assets
- Prepare your financial statements
- Although we offer full accounting services when you need it, we will also train and fully equip your staff to operate in compliance with GAAP
