This accounting blog...
My husband is a full time pastor and has been for years. He also has an approved form 4361 exemption from SE taxes for his work performed as a minister.
The marriage leader from our church decided to pay in advance a deposit to the main speakers for our marriage retreat. He also paid the deposit at the
It would seem to me that by considering ministers as dual status as opposed to considering them as singular status that it would have the effect of imposing
I don't see anything about payroll and tax returns. I use QuickBooks and they take care of all that.
The business manager of the church withholds federal and state, pays FICA and also wants to include housing allowance. I want to be sure that this is
Thank you in advance for your assistance. I am researching new financial and membership software for my church. I thought QB might be a good fit but
Capital asset fund reports assets, liabilities, revenue and expenses related to the acquisition and amortization of capital assets. This is written in
In December 2016, the Obama Administration and Congress agreed to give ACA relief for small American employers.
Until the 2013 regulations of the ACA, churches provided pre-tax health care coverage by directly paying (or reimbursing) employees’ actual health care expenses under what was referred to as a HRA. Now, under the “21st Century Cures Act” churches may return to providing coverage in a similar manner.
The new format, “Qualified Small Employers Health Reimbursement Arrangement” (QSEHRA), has modest thresholds.
1. The employer must have fewer than 50 Full-Time Equivalent employees.
2. The employer must not have a Group Health Plan.
3. A formal QSEHRA written plan must be in place.
Until this legislation was passed only churches with “fewer than two” members had a reasonable path to provide health care coverage. Now that population is expanded to 49.
Churches may now provide employer paid pre-tax coverage to its employees of up to $4,950 for a single employee, and up to $10,000 for a family.
Call Bill OConnell at 617-921-9321 for more information.
Forgive me if my question is 'a given' ... but in reading the posts I was prompted to something we recently did in our church for a congregant. He is
Our current pastor is part time (roughly 50%-salary $27,000) and teaches school to help ends meet. We recently received a large stock distribution that
Last year, multiple members of the church loaned money for the purpose of buying the property next door. We have been making payments back to those members,
My church only pays me a housing allowance (no regular wage/income). Getting a W2 that has $0 for wages messes up my ability to electronically file.
Aplos Software recommended by FreeChurchAccounting.
We needed to remove the mileage our pastor was being paid due to the church budget crunch. He would like to get credit for that mileage as his tithe since
I was a minister of a small local church. The church closed its doors and gave me 6-months severance pay. On my W-2, they did NOT include the amount