Zondervan 2008 Church and Nonprofit Tax and Financial Guide: For 2007 Returns (Zondervan Church & Nonprofit Organization Tax & Financial Guide) [Paperback]

Dan Busby CPA (Author)

Book Description

Publication Date: December 18, 2007 | Series: Zondervan Church & Nonprofit Organization Tax & Financial Guide

The most understandable, easy-to-follow tax guide of its kind--explains complex tax concerns in plain language. 'This basic reference guide fills a long-standing need.' Larry Burkett's Money Matters This annual reference guide continues to be one of the few resources offering tax and financial advice to churches and nonprofit organizations. Issues of financial accountability, receiving and maintaining tax-exempt status, accounting for charitable gifts, and other crucial topics receive careful and full discussion. The 2008 edition also contains a thorough description of tax laws affecting churches and other nonprofit organizations, including changes made in 2004, ensuring compliance with all regulations. This guide is indispensable to church treasurers and anyone else responsible for the financial operation of a nonprofit organization. This 2008 edition includes: * Expert advice on handling charitable gifts * Risk management checklists * Easy techniques for simplifying financial policies and procedures * Tried and true steps for reporting financial information * Key steps in sound compensation planning * Examples of required IRS filings

Editorial Reviews

About the Author

Dan Busby is a certified public accountant with a Masters degree in business from Emporia State University. He has worked as controller of a university medical center, partner-founder of a CPA firm, and chief financial officer for a religious denomination. He currently serves as the president with the Evangelical Council for Financial Accountability, Washington, D.C, and is he coauthor of The Christian's Guide to Worry-Free Money Management.

Product Details

• Reading level: Ages 18 and up
  
• Paperback: 224 pages
• Publisher: Zondervan; Revised edition (December 18, 2007)
• Language: English
• ISBN-10: 0310261856
• ISBN-13: 978-0310261858
• Product Dimensions: 9 x 7.2 x 0.6 inches
• Shipping Weight: 10.4 ounces
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,685,596 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

0 of 2 people found the following review helpful:

5.0 out of 5 stars Take This One to the Bank, April 30, 2008

By 

John W. Pearson "John Pearson Associates" (San Clemente, CA, USA) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Zondervan 2008 Church and Nonprofit Tax and Financial Guide: For 2007 Returns (Zondervan Church & Nonprofit Organization Tax & Financial Guide) (Paperback)

The Budget Bucket is one of 20 buckets in my book, Mastering The Management Buckets: 20 Critical Competencies for Leading Your Business or Non-profit, and I draw heavily on Dan Busby's savvy wisdom in that bucket. Ball #3 in the Budget Bucket is simple: "Monitor Monthly Reports." But here's the catch. When you change board treasurers, don't change your reporting! Pardon the pun, but you can take this one to the bank.

This scene writes itself all across North America: Your nonprofit board elects a new board treasurer. He's from the hardware industry and he's a smart guy. He tweaks the monthly financial reports based on his experience and his accounting knowledge. Your last treasurer was from the hotel industry, and three years ago, she changed the report formats to align with her financial preferences. The previous treasurer asked Cousin Eddie to install financial software from his dry cleaning business. One problem--your nonprofit doesn't do dry cleaning!

Time out, everyone! This makes absolutely no sense and no thoughtful business person would ever permit this craziness in his or her own business. Resist the temptation to allow elected board treasurers and board finance committees to change the reporting systems at will.

The solution? Dan Busby recommends that you establish a standard reporting format and stick with it. Busby says there is one basic rule in preparing financial reports: "Prepare different reports for different audiences. For example, a church board would normally receive a more detailed financial report than the church membership. Department heads in a nonprofit organization might receive reports that only relate to their department." It's simple--but it takes courage to find a report format and stick with it. Busby's book is a must for your church or nonprofit ministry.