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Sage Intacct's 2018 FAQs & Resources for Getting your 1099s Done

Your Best Option for Getting Your 1099s Done Quickly

With the 1099 season upon us, we’ve compiled a list of frequently asked questions to help you tackle all of your 1099 forms and reporting with Sage Intacct's Financial Management software.

Topics: 1099s back office Taxes Income Taxes compliance Awareness 1099 Accounting SaaS Sage Intacct FAQs

What to Do If You Missed the 1099 Deadline

If you missed my post a couple of weeks ago about the 1099 deadline, or if you simply fell behind and didn't get all your 1099-MISCs out the door to your vendors by the February 1st deadline, don't despair. The world is still turning and life is going to go on. It's not the end of the world, and you can still get yourself in compliance relatively easily. Doing nothing because you think it's too late is not a good option, though. That can get you into trouble with the IRS.

Topics: 1099s back office Taxes Income Taxes compliance Awareness

The 10 Most Ridiculous Attempted Tax Deductions

Some tax-time humor from Intacct's View from the Cloud Blog:

If Christmas is the most wonderful time of the year, tax season certainly falls on the opposite end of the spectrum for most. As many of you are likely filing your taxes today or still recovering from the paperwork involved, take a break and check out our quiz of 10 of the most ridiculous things individuals and business owners have tried to claim as tax write offs. Do you think they were successful or did the IRS make them pay?

Topics: Blog View from the Cloud Intacct Taxes Income Taxes Awareness

Churches Can Be Subject To Income Tax!

Not Exempt from Everything

Even though most churches are exempt from federal income tax, we must remember that it isn’t our constitutional right to be tax exempt. It is a common mistake by church leaders to believe that everything done within the church walls should fall under this tax rule. In 1954, Congress enacted what is known today as the unrelated business income tax or UBIT for short. To understand when this applies to your church there a lot of “if…..then” scenarios that must be discussed, so be sure to consult with a nonprofit tax professional before coming to your own conclusions.

Topics: Blog Faith-Based Income Taxes Informational Awareness

eBook: A Tax Guide for Church Internships

The Future of Church Staffing

The future of church staffing will likely see a combination of sources, but one of the key areas of development will be structured intern and residency programs. These target a younger generation in need of practical training, and provide an opportunity both for community involvement and church expansion. This is not just a trend among faith-based institutions. Not-for-profits and other organizations are leveraging interns for a variety of tasks.

Topics: Blog Not-for-profit Industry church accounting Taxes Faith-Based internships eBook ministry Income Taxes church Informational tax Accounting Featured Posts Awareness

Department of Justice Appeals Ministry Housing Allowance Ruling

A Ruling that Church Ministers' Housing Allowance is Unconstitutional has been Appealed...

Pastors and others in ministry find themselves in a very different world today - one with new challenges from those of a generation ago. One such challenge is the court ruling in November that declared church-provided, tax-free housing allowances for ministers unconstitutional. The appeal of this ruling may be very good news for the ministry due to the impending strain the additional expenses and reduction in income would cause.

Topics: Blog Not-for-profit Industry Taxes church ministry Faith-Based non-profit tax-free housing allowance Income Taxes Informational Accounting not-for-profit Awareness