by John Ward
(Paradise, Tx United States)
An individual is having his 401k make distributions to a church in order to take a charitable contribution but not pay income tax on the distribution.
In addition he has asked that the distribution be given to the pastor and youth pastor equally.
How does the church handle the distribution to the pastor and youth pastor. Is it reportable and taxable to the pastor and youth pastor.
Comments for 401K donation earmarked to pastor
|
||
|
||
|
||
|
||
|
||
If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.
Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)