For the first time in tax history, as of January 1, 2010, all non-profits--including religious organizations--, must comply with new IRS 403(b) regulations or risk plan termination, possibly subjecting their employees’ retirement assets to tax, penalties, and interest. Is your ministry prepared? The Summit Center's new 403(b) compliance package will protect your ministry. To find out more information or order the package, click here.
April 2007 Summit Update
May 27, 2008
Mr. Ron Clark, director of the newly-established Summit Christian Leaderhsip Center, reports that the work of this new leadership training arm of the Seminary is progressing nicely. The Sweetbriar Baptist Church simulation module is in the final stages of preparation. The plan is to give this simulation experience a “test drive” in August 2007 with CBTS faculty who will then function as facilitators for the simulation when it debuts with students in January 2008.
The Summit Center is providing strategic planning consultation to several local churches, and the response has been very positive. Mr. Clark is also actively training other facilitators who will provide support for local churches being served by the Summit Center.
Effective January 1, 2010 the IRS has set the standard mileage rate for the business (ministry) use of vehicles at 50 cents per mile.
The standard mileage rate is significant for two reasons....
The stock market has taken a large chunk of your retirement assets. DON’T let the IRS take the rest! A New IRS Retirement Plan deadline is coming soon: December 31, 2009.
All ministries with existing...
The Summit Center provides training to pastors, ministry leaders and seminary students in a variety of areas including:
Church simulations--provides students and pastors with real...
A great way to give to the Lord and also save taxes is to donate appreciated stock (stock whose cost is less than its current value) instead of selling then donating the net cash proceeds after taxes.You not...
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