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2017 Annual Tax and Compliance
Luncheon Seminar
San Jose
When:
Thur, Jan 12th
Where:
Crossroads Bible Church
Livermore
Where:
Cornerstone Fellowship
Sacramento
When: Thurs, Jan 26th
Where: EPIC Bible
College
Reno
When: Fri, Jan 27th
Where: Reno Christian Fellowship
For more information and to register click
HERE
!
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FREE and discounted Christian Ebooks!
"
David C Cook"
is a publisher of Christian books of various genres.*
To view free, sale and popular books, click
HERE
.
*Offers from David C Cook not necessarily endorsed by CMA.
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This month we are hosting our annual tax and compliance update seminars around Northern California and Nevada. Though there was little in the way of significant new legislation out of Washington, a new Republican President will soon be sworn in and the 2017 Congress now features Republican majorities...setting up a real possibility for change in the coming years in a wide number of areas, including tax and compliance. Also, administrative, state, and local changes in reporting requirements, and employment regulations will impact how churches and religious nonprofits will need to go about their business this year. So, if you have yet to register to attend one of our seminars this month I would encourage you to do so today.
Now is also the time to renew your annual membership to ensure you continue to receive all the great benefits CMA has to offer.
As always, if we can be of service to you and your ministry throughout the year please don't hesitate to get in touch.
Yours in His Service,
Steve Boersma
President/CEO
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Small Employers Can Now Offer
Stand-Alone HRAs
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On December 13, 2016 President Obama signed the 21st Century Cures Act. This legislation re-establishes a health reimbursement arrangement for small Employers called the Qualified Small Employer Health Reimbursement Arrangement. With the passing of this act, many small employers and their employees can return to the practice of being reimbursed by their employer for the cost of obtaining private insurance (whether it be on the 'exchange' or via the employer provided health insurance of a spouse). (read more)
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Tax Implications of Crowdfunding
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In an information letter published in July of 2016, the IRS explained its current position on the tax treatment of crowdfunding by looking to general principles of income inclusion.
In the Letter the IRS explained that under Code Sec. 61(a), except as otherwise provided by law, gross income includes all income from whatever source it is derived. Gross income includes all funds, whether realized in the form of cash, property or other economic benefit. However, they noted that some benefits that a taxpayer receives are excludable from income, either because they do not meet the definition of gross income or... (read more)
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US Citizenship and Immigration Services Releases Revised Form I-9
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On November 14, USCIS (US Citizenship and Immigration Services) released a revised version of
Form I-9, Employment Eligibility Verification
. Employers may continue using Form I-9 with a revision date of 03/08/2013 through January 21, 2017. By January 22, 2017, employers must use the revised form. Employers should continue to follow existing storage and retentions rules for all of their previously completed Forms I-9. (read more)
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Employment
Law Corner
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2017 Minimum Wage Rules for
Employers in California
As a result of new legislation (SB 3) passed in 2016, California's minimum wage will start increasing each year until by January 1st of 2022, the minimum wage in the State will be $15.00 per hour. This will change not only the minimum amount affected employers must pay employees, but also which employees will be considered "exempt" from overtime pay requirements. (read more)
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