I have been the treasurer for my church for the better part of 10 years. It is an important job but one that requires a certain amount of specialized knowledge to do it properly which makes it very difficult to ever move out of the position. Having a firm like OSA&C to step in and do the detailed work allows our church finance committee to focus on making the decisions that are best for the church and not be concerned with the details of the books. What a relief!
William S. Hart, CFP, MBA
Retirement Strategies, Inc.
The Affordable Care Act (ACA) brought many changes for employers, including nonprofits, and insurers. Imposed by the ACA, the IRS now requires reporting employer-sponsored health coverage on Form W-2. Most employers, including tax-exempt organizations, must report aggregate costs of “applicable employer-sponsored coverage” under the group plan on employee W-2s. By requiring employers to report this […]
The IRS mandated new reporting requirements to enforce the Affordable Care Act (ACA) that affect nonprofits and churches. These new forms will enable the IRS to verify that taxpayers held insurance with minimum essential coverage and were enrolled for all 12 months. Reporting is early in the year: you must submit your forms (Forms 1094-B […]
