From the Memo Board: March 2018

Dates to Know

March 30 – the Office will be closed in observation of the Resurrection

April 1 – February financial reports will be due

June 18-21 – Family Fellowship Week in Shelby, NC

Financial Report Checklist

Changes in ministry can affect the typical expenses you list on your reports from month to month. For instance, someone on deputation will primarily have travel expenses, while someone on the field may have more costs related to renting a building or purchasing snacks and Sunday School supplies. Someone coming home on furlough will be dealing with mileage, meal allowances, and lodging costs they don’t usually see when on the field. We suggest that you click here to review our checklist of commonly overlooked expenses, to be sure you are claiming all allowable deductions.

Changes in Tax Laws will affect you this year

Our CPA has given us guidance on several changes taking place for this tax year. While our staff is not qualified to give tax advice, we do seek to keep you aware of situations that may impact you financially. Please review the following information carefully, and contact us or your tax preparer if you have questions.

  • Necessity of submitting MFRs

Our accountable plan has always provided a benefit to those who choose to submit Monthly Financial Reports. Those who do not participate have previously had the option to itemize unreimbursed employee expenses on Schedule A of their personal taxes. However, starting this year that is no longer an option. This means that if you have previously been submitting ministry expenses through your tax preparer, you will lose the tax benefit this year unless you begin submitting MFRs. Some ministry expenses could possibly still be used to modify self-employment taxes via Schedule SE, but those specifics would need to be discussed with your tax preparer. By far the best situation is for you to report all ministry expenses through WW, thus providing the fullest tax benefit. If you are new to submitting reports, or even if you just need a quick review, you can click here to download a handy checklist.

Please note that other personal expenses may still affect your tax return, such as health care, contributions, etc. This change specifically affects ministry expenses, such as mileage, travel, and so forth.

  • Change in Entertainment Expenses

Several have asked about the change that eliminates the ability to claim business entertainment expenses. Our CPA has assured us that taking a supporting pastor to lunch and hosting missions teams are expenses that can still be listed on your MFR. One key factor is recording the business purpose of the meal, as well as the participants. (i.e. Took Pastor and Mrs. Smith to lunch to discuss ministry philosophy, or took the Taylors to coffee for a counseling session.) This change specifically affects entertainment expenses such as tickets to sports games or concerts, or sightseeing excursions, so will likely have little impact on our missionaries.

  • Change in Moving Expenses

One big change is that moving expenses are no longer tax deductible. Therefore, shipping a container of household goods is no longer able to be listed on your MFR. If that container also has ministry items, it is possible there may be some allowances that can be made for a portion of the overall expense. Our CPA is unsure how the impact of this change will play out, as the IRS begins making decisions on case-by-case situations of what may still be allowable vs. what will definitely not be allowed. Passports and visa costs will still be allowed, as they are not specifically related to moving. For now, please be aware of this as you estimate costs for moving to the field. As many costs will no longer be tax deductible, you may wish to increase your estimated tax payments to help make up the difference. Please communicate with us when the time comes to move, so we can consult our CPA about your individual case.

  • Change in Child Tax Credits

These changes will affect each family differently, and it is vital that your tax preparer is aware of both state and federal laws that affect this complex situation. Following is a brief note from our CPA: “We are balancing state and federal laws regarding the foreign earned income exclusion (FEIE), foreign tax credits, and child tax credits. In some cases, we delay using the FEIE for federal purposes (but not for state, if applicable), in order to gain benefits of child tax credits. With the increased credits, especially the refundable portion, it’s potentially a whole new ballgame. As our missionary clients get older and their children begin to turn age 17 or begin to attend accredited colleges (depending on the five-year window for FEIE elections), we annually must revisit these factors.”

We recommend discussing your situation with your tax preparer annually, and asking that they recommend which method of exclusions vs. tax credits will most benefit you not only in the current year but also for the future. Our CPA is also available to discuss this should you or your preparer have questions.

  • Tax Notes

As you prepare to submit your financial documents to your tax preparer, here are some things you may want to give them:

  • List of dates you were in the US vs. out of the country
  • Details of any housing expenses
  • Information on any retirement plans – IRA, Roth IRA, Traditional IRA, or 403(b)
  • Information on any investments
  • Information about any foreign bank accounts on which you are a signatory
  • Details of any family births or deaths in 2018 (Names, dates, and SSNs)
  • Details of estimated taxes submitted
  • Information about your health coverage and medical expenses, including the type of health coverage you have (i.e. traditional insurance, marketplace insurance, health sharing plan, etc.)
  • W-2s, 1099’s, and other tax forms received
  • Details of charitable contributions
  • Be sure your tax preparer is aware that you are a dual-status minister, who is self-employed but receives a W-2.
  • New for this year: You may need to provide copies of a photo I.D. such as a drivers license or passport if your preparer will be submitting your taxes electronically

Tax Time Reminders

Tax season is once again upon us! Here are several reminders concerning tax issues that you may face. We trust that this information will be useful to you, both in giving you a better understanding of your reports and helping you to be aware of items that may affect your personal taxes.

Tax Paperwork for 2017

Tax-related paperwork generated by WWNTBM is in your SecureCloud folder. This includes W-2 forms, MFR Summary Reports, and Estimated Tax letters. Please be sure to look at the 2nd page of the MFR Summary, to see if there are any specific notes for you and your tax preparer. If you requested that we submit your tax information directly to your tax preparer, please note that those documents will be sent in late February. This is to ensure that there is time for us to include any forms that may arrive in our office from other sources. If you have any questions, please contact Naomi.

1099 Forms

If churches issued funds payable to you in excess of $600 during the year 2017, they may issue you a 1099 form. If those funds were either mailed to the office, or included on Line 2 of your MFR as extra income, they are already included in the total of your W-2. Our office can assist you in verifying whether the funds were included on your W-2. Your tax preparer can assist you on your return in recording this so that you are not taxed twice on the same income. We recommend that you request churches to make checks payable to WWNTBM to avoid this issue in the future.

Foreign Tax Exclusion

In order to claim the foreign tax exclusion, you must be out of the US for 330 days over a 12 month period of time; however, these days do not have to be in the same calendar year. In order to gain the full benefit of the foreign tax exclusion, your tax preparer may be able to revise your returns based on the actual time you have spent overseas. Because of this, it is vital to provide your tax preparer with all of your travel dates to and from the US. You may also wish to discuss with your tax preparer what dates would be the best travel dates when planning to leave for the field or return on furlough, as this could affect how much you are allowed to claim under the foreign tax exclusion.

It is our understanding that, while the Foreign Tax Exclusion does benefit many of our missionaries, it may not always be the best solution, as there are other situations which may give a greater benefit. Some of those options may affect taxes not only for this year, but for future years as well. This is another reason we recommend consulting a tax professional who can advise you in relation to your unique circumstance.

Healthcare and your taxes

Our financial report gives a location for you to track ‘heath insurance costs.’ However, each individual situation is different. Some use this area to record traditional health insurance, some use it to record expenses through the MarketPlace, and others use it to record details for a health care sharing ministry such as Samaritan Ministries. While all of these are heath related costs, each of the examples affects your taxes in a different way. Please be sure that your tax preparer is aware of the details of your health coverage, as it may affect how they complete your tax return.

Estimated Tax Payments

Missionaries are considered to be self-employed, and are therefore subject to self-employment taxes. Submitting quarterly estimated tax payments throughout the year will help to prevent having a large tax payment due each April. Estimated tax payments can be submitted on your own, or, if you are interested, you may contact our office for information on how we can submit them for you.

Tax Paperwork for those with Foreign Bank Accounts

US Treasury Dept. regulations require that if you have any foreign bank accounts, and if the sum total of all of your foreign accounts has ever been $10,000 at any given time during the past year, you must complete the IRS Foreign Bank and Financial Account Form (FBAR) and give it to your tax preparer. This includes all foreign accounts on which you are a signatory, such as a ministry account. This form, and further information about it, is available on the IRS website at www.irs.gov. It is our understanding that there have been several changes to these requirements in recent years, and you may also need to complete Form 8938. Please refer to the IRS website and your tax preparer if you have any questions.

Ministry Bank Accounts

If your ministry has been chartered and established as a non-profit organization, we recommend having your ministry get a bank account in its name. Funds for purchases such as land may be able to be sent directly to your ministry, thus eliminating your personal tax liability. Please note that there are limitations to this option. Of course, regular support could never be sent this way. Please contact our office for more information.

Utilizing a Tax Professional

Studies have shown that the average person who uses a tax professional, instead of filing their own taxes, receives a much greater tax return. When comparing the returns of those who self file vs. those who use a tax professional, it is estimated that a self-filer loses between $297 and $791 in missed refunds. The savings far exceed the amount spent to hire a professional. Many have also found that using tax software does not always compare to the benefits of using a professional, either. In many instances it is not that the software or the self-filer is wrong, but that other choices may be better. (Information taken from daveramsey.com.)

It is also good to note that not all professionals are familiar with tax situations that might affect you. We encourage all missionaries to use a certified tax preparer who is familiar with special tax situations that affect missionaries and those living overseas. A listing of tax preparers used by other missionaries is available on SecureCloud, under the Forms and Manuals section.

Featured Article: Ecclesiology and World Evangelism

In Titus 2:1, Paul instructs, “But speak thou the things which become sound doctrine.” Theology is the foundation of our faith. Throughout this year, we will be sharing some articles with you that have been penned by our board members. A few of them have taken much time to research and write about an area of systematic theology. We hope this will be an encouragement to your faith. This month, Bro. Tim Daniel has written an article on Ecclesiology–The Doctrine of the Church.

But if I tarry long, that thou mayest know how thou oughtest to behave thyself in the house of God, which is the church of the living God, the pillar and ground of the truth. And without controversy great is the mystery of godliness: God was manifest in the flesh, justified in the Spirit, seen of angels, preached unto the Gentiles, believed on in the world, received up into glory. 1 Timothy 3:15-16

The church is a group of believers called out of the world to go back into the world to sound forth the gospel message of the living God. Everyone in the local church must be functioning and behaving according to God’s truth for world evangelism to successfully take place. The pastor and deacons must be serving God according to His Word. The pastor also must be administering the ordinances of the church for the church to grow in the grace and knowledge of Jesus Christ. Baptism is the announcement of a new believer and disciple in the church, and the Lord’s Supper is an opportunity to remind believers of the atoning work of Jesus Christ. These two ordinances bring new life and revived life to the church. The church must be faithful to tithe and give sacrificially for the work at home and abroad to succeed. As the Word of God is entrusted to others in the local church, it will grow and equip the pastors, evangelists, missionaries, and church members needed to carry on the work of world evangelism.

The Church witnesses the truth of the living God in the world.

The church of the living God is the God-ordained organization to witness the Gospel message around the world (Matthew 28:18-20). The church is the “pillar and ground” of the truth of the living God in the world. Jesus promised, “I will build my church” (Matt. 16:17) and He is still doing so! The stewardship of the Word of God by the church will directly influence the building and witness of the church! Whether it is around the corner or around the world, the church is the God-ordained organization to build evangelistic outreach. Other organizations are involved in missions, but the God-ordained institution is the local church. In Acts 13:2-3, the local church at Antioch under the leadership of the Holy Spirit commissioned and sent Barnabas and Paul out as missionaries. They were then accountable to that church for their missionary work. This same process of the church witnessing in the world must be distinctly maintained today! Unless the local church wisely operates according to the truth of the Word of God world evangelism will die!

The Church worships the truth of the living God in the world.

It is through the biblical worship of the living God in the church that world evangelism will be reinforced and expanded. The Word must be preached and practiced to regenerate new life and new service for God. The church is the “pillar” of truth, a place of heralding forth the Word of truth! It is not an entertainment center, social club, theater, or recreational facility. Its main business is the preaching, preservation, and practice of the truth. Worshiping God according to truth produces a continuous cycle of more evangelism, more sanctification, more edification and more equipping (Acts 15:33, 2 Timothy 2:2). Worship builds the church and its missions outreach! Proper worship in the church of the living God produces more and more world evangelism! In order to maintain and move forward in world evangelism, there must be a strong determination to plant more local churches! The more people who properly worship God in spirit and truth, the more warriors will be produced and prepared for spreading the Gospel around the world. Worship in the local church and world evangelism work hand in hand.

The Church wars for the truth of the living God in the world.

The church of the living God is a group of believers who earnestly contend for the truth of God (Jude 3). They will advance against the enemy and false doctrine to take the Gospel of Jesus Christ all around the world (2 Timothy 2:3-4). The world is a war zone for believers! The church of the living God is the “ground” or “foundation” of truth that propels missionaries into the regions beyond. Everything done in the name of the living God must be built on the foundation of truth, which is the Word of God. The church is the source of the called-out warriors to advance with the truth around the world. Therefore, the local church evangelizes, educates, edifies, and equips people to advance the cause of Christ throughout the earth! Without the power of the Holy Spirit in the local church, true world evangelism will be defeated by false religions and God’s enemies!

Without an institution that is functioning well and is identified as the ground and pillar of truth, biblical missions will cease to exist. Thank God, that institution God established for the work of world evangelism is the church. Missions cannot operate biblically or successfully apart from the pillar and ground of truth, which is the church of the living God. May God raise up more pastors who will preach with the power of Holy Spirit! May God enable us to preserve the truth in our generation and behave biblically as we practice this truth in the local church! Truth will triumph in the church, and truth will triumph in world evangelism. The church must continue to function as the pillar and ground of truth! World evangelism will progress proportionately as the truth of the living God is preached and preserved in the local church.

Pastor Tim Daniel
New Testament Baptist Church
Kinston, NC

If this has been a blessing to you or you would like to share your thoughts with Bro. Tim Daniel, you can contact him via email here.

From the Memo Board: February 2018

Dates to Know

February 19 – You should receive the 2018 MFR Template with the new mileage rates.

March 1 – January Financial Reports will be due.

June 18-21 – Family Fellowship Week in Shelby, NC.

August 20-24 – Encouragement Conference in Germany.

Uplift

The Friday Uplift time changed to 11:15 AM. The adjustment allows everyone a better block of time for making deputation contact calls. If you have never attended Friday Uplift, please join us for this time of encouragement and prayer. Other Uplift meetings this month are Tuesday, February 13th at 9:00 AM EST and Tuesday, February 27th at 9:00 PM EST.

Women of World Wide

We’re announcing a fairly new ministry of WWNTBM for ladies only. For several months now, we’ve had a Facebook closed group for the women of our mission. Every day, you can laugh, pray, ask questions, and share with us. Some of our ladies are very active, but we haven’t seen many of you at all. Perhaps you didn’t even know we existed. Men, please tell your wives about WOW (Women of World Wide), and if you are a World Wide lady reading this, please come over and join us. It would be wonderful to have ladies praying for each other at any hour of the day or night. We are all over the globe, you know! Hope to see you soon! Your fellow WOW, Lou Ann Keiser (Spain)

Please contact the office to be added to the WOW group.

Benefits of Financial Reports

The Monthly Financial Report (MFR) is the tool that missionaries can use to become accountable to WWNTBM for their reimbursable expenses, rather than having all funds listed as salary. Over the course of 2017, 82% of those eligible chose to submit MFRs. By doing so, they were able to reduce their W-2 Wages by a combined average of 33.73%. If you are not currently utilizing MFRs and would like information about how to begin, please contact our Office. This tool will be even more important in 2018 as changes to the tax law may make it more difficult to claim certain items on your own taxes that could still be claimed through the WW office.

Financial Status Report

We have uploaded a Financial Status Report to your SecureCloud account. This is meant to show you the financial details that we have on file, such as your support estimate and the average amount of support you received this past quarter. This is information we provide to pastors who may call about your ministry. We ask that all missionaries update their support estimate once every four years, or as their lives and ministries change. Please review this information and contact us if you have any questions.

New Baby

Congratulations to Joshua and Joanna Town on the birth of their newest baby, Joshua Scot. He was born on January 31, and weighed 8 pounds 10 ounces and was 21 inches long. Joshua joins three sisters: Juliana, Jayla, and Jennifer. The Towns are starting an Arabic church plant in Philadelphia, PA. Pray for their ministry as they are seeking a new location.

From Our President: February 2018

Danny Whetstone

In June of 1976, I was invited to become an Executive Board Member of World Wide New Testament Baptist Mission. What I knew about missions had very little to do with personal experience. There was no way for me to know what the years to follow would mean to me. The board was, and still is, made up of men that sincerely had a burden to help missionaries get to the mission field. It was the beginning of my understanding of missions, and I was learning from some of the very best. My mentor, Pastor Bill Wingard, began shaping my vision of New Testament missions. Perhaps he did not understand during those days the impact he would have on my life in this amazing journey. Pastor Wingard has not only shaped my understanding of missions, but he is the very heart of WWNTBM. These many years have afforded me so many wonderful years of memories. We certainly have not done everything right, but, once we’ve recognized our mistakes, we have done everything possible to correct them and learn from them.

This year will mark twenty-five years that Brother John O’Malley has served with World Wide. We have great hopes for the future of this work. I have the joy of being in meetings almost every week with some of our missionaries. I have never been more proud of these faithful servants of the Lord. Brother O’Malley is the General Director of WWNTBM. He is doing an awesome job of taking the ministry into the future. Many things have changed through the years. I can remember when it would oftentimes take two to four weeks just to get support to some of our missionaries. Now almost all missionaries can have their support in a day or two. In the past, pretty much everything was done by hand rather than with a computer. However, though many things have changed over the years, many things have not changed. We are still committed to maintaining the policies and practices that we started with in 1971.

I want to say thank you to each missionary, staff member, board member, and supporter for not only making World Wide what it is, but also for propelling it into the future with a determination to change when needed and stand fast on those things that make us who we are. May we all be challenged to be a strong link in the chain that has been forged through the years, and pray with us that the days ahead will be filled with faithful servants through this ministry.

In His Service,
Danny A. Whetstone

If this article has been an encouragement to you, you can email Bro. Whetstone here to let him know.

Prayer & Dates: February 2018

February Prayer/Praises and Special Dates

Click the link above to download a PDF of prayer requests and praises as well as the birthdays and anniversaries for February. Note: You will need to login to SecureCloud in order to view this document. Once you have logged in, click on Files, Shared, then Headquarter Happenings, then scroll to the month you would like to view. This step protects people with WWNTBM in restricted access fields.

New Missionaries January 2018

Praise the Lord, He is continuing to bring new missionaries to join our family at World Wide! Here are two new families who have been interviewed in recent weeks. Pray for these as they begin deputation, as well as others still in the application process!

Jed and Gloria Duarte are sent out of the Maranatha Baptist Church in Shelby, NC, pastored by Jim Davidson. They have a daughter, Eliana, who is just a few weeks old. Bro. Duarte is originally from Brazil, where his father is a pastor. Gloria was born in Kenya, where her family served as missionaries. They are both graduates of Ambassador Baptist College and plan to go to the Moto Grosso area of Brazil.

Ethan and Brittany Prater are sent out of the Emmanuel Baptist Church in Abingdon, VA, with Pastor Bryan Treadway. He is a graduate of Grace Baptist Bible Institute of Dennis, MS. The Praters have three sons: Enoch (5), Silas (3), and Jude (1). They will soon be starting deputation to go to the Dominican Republic.

Featured Article: Overcoming Your Devotional Obstacles Part Eight

For the next few months, Bro. John O’Malley will be sharing with us from his book, Overcoming Your Devotional Obstacles. We know that everyone can use some encouragement to stay in the Word of God on a daily basis, and we hope these articles will be a blessing to you in your walk with the Lord.

The Obstacle of Application–I do not know how to apply Scripture to my life.

Last month, we began looking at Bible study methods to aid you in overcoming the Obstacle of Application. To review the EXAMINE method, click here. This month, we will look at two more methods to help overcome this obstacle: the PRAY method and the Your Best Devotions Ever method.

Like the EXAMINE Bible study method, the PRAY Bible study method is an acrostic. This Bible study method is simple to complete. It places focus on a short passage. This method engages both the mind and heart to find the application of a passage as you examine what is there. I developed this method to help me. I hope it helps you.

Choose one short passage or a specific verse in which you want to discover its application. I find it difficult to do very many verses. I like to find the paragraph beginning and ending and narrow it down to the verse which I would like to discover its application.

P – Pray. I know it seems obvious to say, but pray!

  • Ask the Author of the greatest Book of all time to help you discover what He has for you.
  • Ask Him for wisdom to understand what is preserved for you in His Word.
  • Ask Him for knowledge to learn what He placed in His Word for you.
  • Ask Him for His power to discern what He inspired men to write.
  • Ask Him for His lesson for you from this passage.

R – Read the passage or verse.

  • Read silently five times.
  • 
Read deliberately and pause at every punctuation mark.
  • Read the passage or verse aloud at least once.
  • Read it to hear it. If you prefer, use an audio Bible to listen to that verse being read.

A – Ask yourself these questions:

  • Who: Who is doing the speaking? Or to whom is the verse addressed?
  • What: What precept, principle, promise, or practice is being expressed?
  • When: When is the action in this verse to be taken? Is there a condition or context mentioned?
  • Where: Are there places mentioned? Make note of what else happened in the same place in Scripture.
  • Why: Why did the subject of the passage or verse need to hear the message delivered? Why do you need to know what is here?
  • How: If this was the only thing you ever read in the Bible, how would you change your life because of its message?

Y – Yield yourself to Him.

  • Are you submitted to obey His Word? All of it? Every word of it?
  • Are you sensitive to the Holy Spirit’s conviction in this passage?
  • How does this passage call you to draw closer to Him because you read it?

Lastly, you may find the Your Best Devotions Ever Bible Study Method helpful.

Your Best Devotions Ever Bible study method uses five prompts to help you have the Best Devotions Ever. While the title is ambitious, once you do it a few times, you will see how helpful it is. I began using this method when I was a very young. My father gave me the essence of it. I have modified it over the last forty years. I gave the method a name, but at its core, it is unchanged.

You can use index cards or an index card app. You also could add notes to your digital Bible app or your digital journal app. I encourage you to review the index card at least four times in twenty-four hours. Save your cards as you will enjoy them for years to come.

5 Steps to Your Best Devotions Ever
Passage Read:
Date:

  • Write a simple, deep, or catchy title for this passage.
  • What is the best phrase or verse that supports your choice for a title?
  • What verse challenges you the most?
  • Write out a one-sentence prayer that requests God’s help for the above challenge.
  • What can you do today that will show you have applied this passage to your life?

While I can show you steps to take and methods to follow, you will need to develop your own set of skills. Do not put too much pressure on yourself. Take your time. If it takes you two days to fill out one of the methods, it is fine. Get a win for yourself by completing one method. Try doing one method for a week. Then try one of the other two methods in this section, which are designed to assist with Bible application, for a week. You will gravitate to one more than another.

My goal is to give you the tools to overcome the Obstacle of Application. When you get stuck, review the three Bible study methods to assist with applying Scripture.

If these thoughts have been an encouragement to you, you can email Bro. O’Malley here to let him know. If you’d like to purchase the entire Overcoming Your Devotional Obstacles book in PDF, Kindle, or iBooks format, click here.

Prayer & Dates: January 2018

January Prayer/Praises and Special Dates

Click the link above to download a PDF of prayer requests and praises as well as the birthdays and anniversaries for January. Note: You will need to login to SecureCloud in order to view this document. Once you have logged in, click on Files, Shared, then Headquarter Happenings, then scroll to the month you would like to view. This step protects people with WWNTBM in restricted access fields.

From Our President: January 2018

Danny Whetstone

Here we go, working through another year. I hope we all will set things before us to accomplish over the next twelve months. Do you have a plan for reading and studying your Bible this year? Have you targeted some books to read in the weeks to come? Do you need to refresh your prayer list to assist in your daily prayer before the Lord? I’m sure that other things will come to mind that the Lord has put on your heart. We will hit no higher than we aim. Let’s aim to do our best for Christ in all that we do.

Imagine what might happen this year. People who maybe we would never give a second thought to might very well accept the Gospel. There certainly will be people that will trust Christ. There will be baptismal services this year. Among the mission family, there will be new churches established that will take the gospel to the generations beyond us. The possibilities are beyond our ability to think. Think big! Then dream bigger!

Plans are being made for two events that will take place this year. The third Monday in June will be the Family Fellowship Meeting. If you will be in the States that week please put it on your calendar and plan to be with us there. We are also planning to have a conference in Germany beginning August 20. If you are in Europe or the Middle East please make plans to be with us for a few days of wonderful fellowship. We are also hoping that there will be a number of couples coming from the States for those days.

Darleen and I have a very aggressive schedule for 2018. That means that we will again be with many of the churches that support your ministry. Pray with us that we will be used of the Lord in these many services. We desire results that would be to His glory. I pray that the Lord will bless your labor of love.

In His Service,
Danny A. Whetstone

If this article has been an encouragement to you, you can email Bro. Whetstone here to let him know.