Proverbs 24:3 Consulting is a full-service
Accounting firm licensed in North Carolina that specializes in
nonprofit and small business accounting, bookkeeping and payroll
Our Firm is big enough to serve clients nationwide, but small enough to know their names.
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Proverbs 24:3 Accounting Services provides unparalleled personalized accounting services to broad range nonprofit organizations across the United States. Our staff is comprised of accountants, bookkeepers and administrative assistants that are experts in nonprofit accounting, bookkeeping and payroll, and as experts we help your nonprofit organization make financial decisions that are made carefully and with your best interests in mind.
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We understand that every organization is different, and their accounting needs are unique. We are here for any and every financial challenge you may face. Proverbs 24:3 Accounting Services is ready to serve as a voice of reason for your accounting decisions. We want to help you make the best decisions possible. Our personalized accounting services and solutions have helped our clients manage a better financial future.
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The following is according to the IRS website IRS Tax Tip 2018-134, August 28, 2018 Before applying for tax-exempt status, a charitable organization should determine if it’s one of the following: Trust A trust is formed under state law. An organization should review the law … Continue readingInfo for charities applying for tax-exempt status: determining type of organization
There seems to be this uproar regarding churches paying taxes on their parking lot. What we need to keep in mind is that this particular church rented out its parking lot on a regular and consistent basis. What this means to this particular church, is … Continue readingParking lot tax
The question “What is Unrelated Business income “ is confusing to a lot of churches. According the IRS URBI is defined as an activity is an unrelated business (and subject to unrelated business income tax) if it meets three requirements: It is a trade or … Continue readingUnrelated business Income
Tax Inquiries and Examinations of Churches Congress has imposed special limitations, found in section 7611 of the Internal Revenue Code, on how and when the IRS may conduct civil tax inquiries and examinations of churches. The IRS may begin a church tax inquiry only if … Continue readingSpecial Rules Limiting IRS Authority to Audit a Church
One thing that I am asked with frequency is “why do we need to have an outside accountant review our books on a regular basis when we have a bookkeeper. While the answer to this question varies from organization to organization the main reason is … Continue readingNonprofit bookkeeper arrested in embezzlement case
I have seen it countless times, a group of people get together and decide to start a church. They find a pastor, a secretary and someone to act as the treasure. Get a building, and start having church services.