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Archive for June, 2014

California Minimum Wage Set to Increase July 1st

If you haven’t noticed, the minimum wage rate in California is set to increase next month. CMA reminds all church and religious organizations that unless specifically exempt your organization is required to comply with all employment and wage regulations for California employees. We recommend you review all paid positions this month to ensure you are […]

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Minister & Employee Expense Reimbursements…

What you need to know to comply with current federal income tax rules and regulations A ministry, like any business, is allowed to reimburse staff for ministry expenses paid for with personal funds under either an “accountable” or “non-accountable” reimbursement plan. By law, however, expenses reimbursed under a non-accountable plan must be treated as taxable […]

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When is a Charitable Contribution Deductible?

Not all contributions are created equal under the tax code. While Sunday morning offerings and gifts are almost always tax deductible, gifts that come with restrictions or specific designations may not be legally deductible or receipted as such by the church. Likewise, sometimes a payment received from a member for something that looks like a […]

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Interest Rate Shock by by David S. Lee, CTP, Sr. Relationship Manager, ECCU

“Life is like a box of chocolates, you never know what you’ll get” – the infamous quote from the movie Forrest Gump where Tom Hanks alluded to the uncertainty of what life is going to hand you has great merit, especially in the times that we’re living in today. In our family, if you happened […]

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