8 more tips on avoiding traps for local churches.

Verne Hargrave, CPA, of the accounting firm PSK, is continuing his great series on traps that business administrators can fall into. He is offering tips on avoiding the traps.

Previously mentioned this in my post here.

New discussions include:

Trap #2 Operating without a compensation plan (part 1)

Trap #2 Operating without a compensation plan (part 2)

Getting off on the right foot – hiring right.

Trap #2 Operating without a compensation plan (part 3)

Happy together; managing your employees.

Tips for a new hire packet to make sure everyone gets off to a good, legal start.

Trap #2 Operating without a compensation plan (part 4)

It’s so difficult to say goodbye – firing right.

When a person just doesn’t fit your organization, it is important to end well. And end legal.

Trap #3 Operating with little or no accounting controls

Because of staff size many churches have poor segregation of tasks.

Trap #3 Operating with little or no accounting controls (part 2)

Many churches fail to implement a well defined purchase approval and payment system.

Trap 4 Operating in the IRS and state & local tax world without knowing the rules. (Part 2)

Many churches ignore or do not understand what unrelated business income is.

Trap 4 Operating in the IRS and state & local tax world without knowing the rules. (Part 3)

Many churches think that their state sales tax exemption applies to ALL TRANSACTIONS.

The sales tax discussion obviously focuses on rules in Texas. That actually emphasizes how important it is to understand the rules in your state.

Check out the posts. They are very good. Also reasonably short. You could read one or two on a break. You could go through all of them in a week a few minutes at a time .

You might even think about setting up Faith-Based Accounting on your RSS feed, so you can read Mr. Hargrave’s posts as he releases them.

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