Compensation - It's More Than A Paycheckwith Elaine Sommerville, CPA
While most employers and employees tend to focus on a paycheck, compensation is more than just the paycheck. Compensation requires thoughtful planning in order to provide the greatest benefit to the employee at the least cost to the employer.
Additionally, churches must consider additional rules regarding reasonable compensation and documentation that are not as crucial in the normal business environment. Failure to work within the federal law can result in penalties to the employee as well as a threat to the church’s tax-exempt status.
Embracing the realm of compensation planning requires:
- An understanding of what is compensation
- Knowledge of the special rules applicable to compensation plans for key staff members
- Embracing the realm of fringe benefits and the various applicable tax rules
- Assisting staff members in looking beyond their working years
CEU InformationThis presentation qualifies for 0.1 CEU credit toward CCA certification and retention. Please refer to certification guidelines to ensure you are in proper compliance for credit. After completing the course submit a CEU request form to complete and make your request.
CPE credit is not available for e-lab programs.