Gift income includes gifts and contributions from individuals, special offerings, estate gifts, funds raised for disaster relief, and ministry shares. Among all these sources one of the most important, though often the least understood, is ministry shares.
We all face tough questions about our charitable giving. In tough financial times, these questions are even harder to answer. That’s one reason why the Christian Reformed Church in North America has a system called ministry shares.
As a mom who tries to get the most bang out of her budgetary buck, I stock up on a few specifics each season—beach toys and towels at the end of summer and gift wrap and greeting cards after Christmas. As a church administrator there are likely a few key times when you also load up on supplies. From pens to toilet tissue, candles to printer ink, you know when and where...
Since ministers are not allowed to deduct church related business expenses from their local church employment as self-employed workers, often ministers and other church employees pay unnecessary income taxes on legitimate business expenses.