Church leaders urged to be wise managers of Lord’s money, educated on tax laws

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It’s the Lord’s money and church leaders need to use it wisely, said Lee Wright, coordinator of church compensation services for the Alabama Baptist State Board of Missions.

Wright speaks on this topic often. In fact, he led 10 “Church Financial Issues” conferences in 2017. He discussed a variety of financial issues in speaking to church leaders during those conferences.

Business mileage deduction. To be considered nontaxable, automobile expenses should be part of a minister’s accountable reimbursement plan. Without such accountability at least every two months, these expense reimbursements are considered taxable income, Wright said. (continued…)

Read more from The Alabama Baptist newspaper – http://www.thealabamabaptist.org/church-leaders-urged-to-be-wise-managers-of-lords-money-educated-on-tax-laws/

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