Board of Pensions Tax Resources
We may be through the time of preparing, distributing, and filing employee tax information, but April 15, the personal income tax filing deadline, will be upon us before we know it, so don’t wait to your copies of the tax guides available from the Board of Pensions: Tax Guide for Ministers for 2020 Returns and 2021 Federal Reporting Requirements for Churches. Both are now available on the BoP’s Benefits Connect website and may be printed or saved in electronic format. Both of these resources are full of useful information, and I highly recommend getting a copy.
Festival of Faith
At the Festival of Faith on Zoom on Saturday, March 20, I will be leading two workshops for church treasurers. In the morning is the hour-long Church Financial Reporting, the goal of which is to provide information, examples, and templates for reporting the financial picture or the church to the Session and congregation. In the afternoon is the two-hour Church Treasurers’ Workshop, which is an introduction to, or maybe a refresher on, the duties and responsibilities of a church treasurer.
Full details on Festival of Faith are available here. Please get in touch with me if you have questions or would like more information about the treasurers’ workshops.
Free Webinar: Handling Church Finances in the New Normal
This free one-hour webinar by Church Law & Tax will address the current financial realities for churches and other nonprofits and also look ahead to tackling the financial challenges of our new normal. It is at noon EST Feb. 24 and will be led by CPA and CLT senior editorial advisor Michael E. Batts. Click here to register.
New Round of PPP Loans
Back in December, Congress passed and the President signed into law the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act),” which provides additional relief measures, funding, and changes to the SBA Paycheck Protection Program (PPP). Here is information provided by Brown Edwards CPAs that details who can apply, application process, and terms. Also, information is available on the Church Law and Tax website, and the Small Business Administration (SBA) website, which has detailed information, forms, and FAQs available as well.
The SBA issued instructions on how borrowers should calculate the revenue reduction and maximum loan amounts for second draw PPP loans. Brown Edwards CPAs published a guidance document to assist in navigating the calculations and compiling the required documentation.
Additionally, I have been emailing church treasurers with PPP Loan news/updates that happen between the publishing of the PWV newsletter. If you would like to be added to this mailing list, please email me at email@example.com.
2021 IRS Standard Mileage
As of Jan. 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is:
- 56 cents per mile for business miles driven, down from 57.5 cents for 2020
- 16 cents per mile driven for medical or moving purposes, down from 1 cent for 2020
- 14 cents per mile driven in service of charitable organizations
2021 Per Capita
The 2021 Per Capita is $30.05 per member. Approved at the August 2020 Presbytery Meeting, it is a five cent increase from the 2020 rate. The increase was in response to a three cent increase in the General Assembly rate for 2021 to $8.98 and to provide a little relief to the Presbytery of past increases at the other levels that we have absorbed. Therefore, with the total rate at $30.05 per member, the Presbytery of West Virginia will keep $18.67, sending $8.98 and $2.40 to the General Assembly and Synod of the Trinity, respectively.
2021 Shared Mission Pledge Request
Hopefully, all of our churches received a 2021 Shared Mission pledge request and Per Capita notice, which were mailed in November to the treasurer, Clerk of Session, and pastoral leader. We encourage each Session to thoughtfully consider our request. The information provided when a church returns their pledge card, no matter the response, is essential to our effective management of the Presbytery’s financial resources, so we urge churches to return their pledge card as soon as possible. If you have any questions about mission pledge, Per Capita, or other benevolences, please contact me (304-744-7634, firstname.lastname@example.org).
Presbyterian Foundation Day of Learning on stewardship
On March 2, the Presbyterian Foundation will offer a free Day of Learning that will include three workshops with stewardship and church leaders in a casual, virtual setting. There will be time for questions and answers. Register here. If you have questions, email email@example.com. The workshops are:
- 11:30 AM: Church Mission and Sustainability With Stephen Keizer and Rev. Gail Monsma, which will provide ideas for creating a culture of generosity through a comprehensive stewardship program
- 2 PM: Virtual Campaigns and Online Giving with Rev. Ellie Johns-Kelley and Karl Mattison, which will share the top 5 features that we can leverage from a virtual stewardship campaign and how we can effectively use these tools going forward
- 5:30 PM: Practical Tips for Church Budgeting with Olanda Carr and Rev. Dr. Jonah So, which will cover the basic items to consider when creating a church budget and provide an overview of the various types of church budgets.
2021 Special Offerings Calendar
Here is the calendar for the four churchwide Special Offerings of the Presbyterian Church (U.S.A.):
ONE GREAT HOUR OF SHARING: Feb. 17 to April 4
PENTECOST: April 5 to May 23
PEACE & GLOBAL WITNESS: Sept. 5 to Oct. 3
CHRISTMAS JOY: Nov. 28 to Dec. 19