Do I Need to Keep Receipts for Money Coming Into My Account?
When money lands in your bank account, whether it's a refund, a client payment, or something else, it's natural to wonder if you need to hang on to paperwork for…
Should reimbursements be submitted one at a time or grouped together monthly?
Reimbursements come up often for business owners, especially those running their business as an S-corp and reimbursing themselves for home office expenses. It's a great question because getting the process…
Should I Deposit My W-2 Paycheck Into the LLC Account Where My 1099 Income Lands?
Many Stewards run a side business through a single member LLC, collect their 1099 income in that LLC's bank account, and also hold a regular W-2 job. The natural question…
Home Office and Business Expenses for a Corporation: What Can the Business Pay, and What Gets Reimbursed?
When you move from mixing personal and business money to running a real corporation, one of the first questions is simple to ask and surprisingly layered to answer. Where does…
How Owner Distributions Work in an S-Corp Before Payroll Is Set Up?
A common question from owners of a newly elected S-corp is how money should move from the business to themselves in the early days, especially when payroll has not started…
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Are Tuition Payments to a Christian School Tax Deductible?
Many faithful families choose a Christian school because they want their children formed in faith as well as academics, and it is natural to wonder whether the cost brings any…
Can I Deduct My Health Care Sharing Payments as Health Insurance Premiums?
Many faithful stewards have moved to a Christian health care sharing ministry, then come tax season they wonder how those monthly payments are treated. It is a fair question, and…
Do 508(c)(1)(A) organizations have to file an annual return with the IRS like other nonprofits?
This is one of the most common questions stewards ask once they understand how their church or ministry is recognized. It comes up because the rules for these organizations are…