CB Northwest is excited to be working with Rev. Monte R McGary and Tax Smart Resolutions to begin a discussion about good stewardship and understanding tax obligations. This is accomplished through offering Tax Seminars to members at a low cost:
- Individual Tax Seminar: $60 per person covers basic tax theory, Filing out simple Forms 1040EZ, 1040A & 1040, Understanding withholding & Estimated Taxes, How The Affordable Care Act effects You, What to do When the IRS comes knocking, and Questions & Answers (Click here)
- Church and Ministers Seminars: $100 per person covers basic tax Law, Exempt organizations, Employment taxes, Special Minister rules, and Questions & Answers (Click here)
- Special rates for those who are having issues with the IRS and need help or representation (Click here)
When most people think of taxes, they think it's a once a year event ending April 15th. Even if individuals utilize a budget for their finances, most do not include their tax obligations in the budget. Taxes are an "out of sight-out of mind" issue for most people. Just as knowing things like average income and necessary expenses help to define a budget, taxes should be addressed alongside things like tithe, mortgage or rent, electricity, food and such. Most people fill out a W-4 with their employer when they get hired and don't think about it again. When it comes time to file taxes they either expect a refund, or are surprised they owe, or don't know what's going to happen. As good stewards of our finances we can learn what we need to know to get the most from our finances. There is a way to know what your withholding should be. This should be checked at the beginning of each year. Getting large refunds means too much is being withheld. The government doesn't pay interest on these funds. Learning how changes in tax law effect you needs to be a priority. An example of this was the passage of the Affordable Care act. This act effects every member of the household!
Good stewardship extends far beyond the individual members of a local body. Church leaders, Pastors or Elders are subject to special rules. These rules are often confusing. The actual structure of how churches function as Non-profit Organizations under Tax Code Section 501 (c) (3) require caution about how the church and its leadership conduct business. Often leaders are unknowledgeable or confused about their responsibilities. Tax Smart Resolutions offers low cost seminars specific to church leaders to address and clarify both personal and organizational tax questions or issues.
Rev. Monte R McGary is currently an Enrolled Agent. He worked for 28 years with the Internal Revenue as a Senior Tax Technician specializing in complex tax law, and as a Senior Field Collector. He retired after 30 years of service with the federal government. He is also an Ordained Minister, and has recently retired from pastoral ministry after 20 plus years serving at a local CBNW church as Senior Pastor/Elder. He is currently working with CBNW to promote a complete understanding of stewardship. The old adage "you can't escape death and taxes" rings true. Yet, there are many who either live in fear of, or try to avoid altogether these two very inescapable issues. As those redeemed and covered by Christ's blood we are called to live in victory. Death was conquered by Christ work at Calvary. Taxes can be understood and peace of mind can be achieved in dealing with them thru education. The above seminars are a great start in plans for a Christ centered stewardship.