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Posted by: Charles P Myrick CPA Posted on: Mar 19 2019

Will Your Church Have to Pay the Parking Lot Tax?

Many of the church leaders I know and work with have been puzzled about an obscure provision in the Tax Cuts and Jobs Act of 2017 known as the parking lot tax. This provision deals with parking provided to employees. Some leaders are concerned that these parking spaces have become a potential tax liability. As frequently happens with a change in the tax code, there is lots of confusion about the intent and its consequence.

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Posted by: Charles P Myrick CPA Posted on: Feb 12 2019

Is a Cash Reserve a Challenge for Your Church?

For a church, cash flow can make or break its ability to survive. The reliance on member donations increases the need of church leaders to manage finances through revenue peaks and valleys. A cash reserve can be the buffer to carry you through the valleys. Without a cash reserve to draw from, many churches have found themselves scrambling to raise funds when needs come up. 

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Posted by: Charles P Myrick CPA Posted on: Jan 15 2019

What Do Church Boards Need for Better Fiscal Management?

Church boards serve multiple masters. Tasked with guiding and keeping the mission-driven activities on course, board members can lose touch with the day-to-day financial operations. The board's responsibility for the ongoing monitoring of the church's fiscal matters is a fiduciary one. To do so, it must receive regular and accurate financial information.

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