Summary Report of Taxes Paid

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greggo
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Summary Report of Taxes Paid

Postby greggo » Thu Aug 07, 2008 7:37 am

Unrelated to the FO issue ...

Does anyone know if there is a way to generate a summary report of the taxes paid?

Our ward is not in one of the states that require the church to pay sales tax, but I still have been recording the tax amount for each of the checks written. I started just because I didn't know it wasn't required (and didn't know I could turn off that option), but I have since kept the option, because I wanted to get an idea of how much we were paying.

Our stake fin. clerk has recently been pushing for us to use the state sales tax exempt form for church purchases, but it has been very difficult to get members to use it. And not all businesses will accept it without additional hoops to jump through (even the local BSA office requires additional forms and letters from Bishops).

To help push our membership to use the form, I would like to know how much we spent, so I can report how much we could be saving.

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aebrown
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Postby aebrown » Thu Aug 07, 2008 8:01 am

Greggo wrote:Does anyone know if there is a way to generate a summary report of the sales taxes paid?


[I moved this post to a new thread to avoid confusing the single issue of the other thread. When you know you are starting a new topic, you can always feel free (it's actually recommended;)) to start a new thread.]

I'm quite sure there is no way to generate a report of sales taxes paid. Only by looking at each check detail can you see those amounts, and that's certainly tedious if you want to see how much you paid for a whole year.

I know that sales tax rates vary from state to state, and budget allowances, etc. But in our stake a typical ward spends about 2.5% of the budget allowance on tax. Since we are in Utah, this amount is reimbursed. Our sales tax has some variations by county and municipality, but it is mostly 3.0% for food and 6.8% for all other items. Of course many expenses have no sales tax. But as I said, it all works out to about 2.5%. So as a real rough guess, you might use that number, perhaps adjusted for your state's tax rates, to get some idea of what you might be spending.

lajackson
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Postby lajackson » Thu Aug 07, 2008 8:11 pm

Greggo wrote:To help push our membership to use the form, I would like to know how much we spent, so I can report how much we could be saving.


We promote the tax exempt form by reminding folks that they save 8.25% of their budget if they do not pay the tax. And whatever they save, we allow them to keep it in their budget and use it if needed.


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