This accounting blog...
We are a very small church, trying to codify our Accountable Reimbursement Plan. When our pastor is reassigned, we want to give the option for them to
If board approval says that they are only going to pay the pastor 100% housing allowance, without payroll, than this would avoid the church having to pay
My father is an interim pastor for his church and received a W-2 amounts in Box 1 Wages and Box 2 FIT Withheld. Box 13 was also checked for statutory
Is the entire housing allowance portion reported as wages for self employment tax, on schedule SE (box 5a of 2020 tax year) OR can I reduce the housing
Our pastor has put in his notice and his last day will be in about a month (mid-May). He is not currently going to another congregation. He has asked
With regards to the Main Question above, should such earmarked contributions be taken to Income or would it be acceptable to treat it as a Special Fund
Can a church give their pastor who is receiving Social Security and is being paid a housing allowance a personal retirement amount and he doesn't have
If a pastor and his wife work together can their salaries be combined and filed together on the pastors w2? Vickey's Reply: No. In no shape or form is
We have a minister who we pay $250 for each time he speaks at our church, so he is not an employee? He has asked that instead of making the check out
If a pastor owns their home free and clear (no mortgage), is the housing allowance then limited to only the actual expenses - insurance, taxes, utilities,
If a church reimburses a pastor for the purchase of a computer or any other church related technological device, does that make the computer property of
We have a church owned mission house. At this time, we have a previous IMB missionary living in the house. He has joined our staff for now and has
We are a small church and we have a parsonage that we are just remodeling for our new pastor. She has a fulltime job with another company with full
I currently work as an ordained hospice chaplain and the scope of the work qualifies me to receive the clergy housing allowance for ordained ministers.
We are a brand new church. we only pay a pastor for housing allowance. In this case, how can church report social tax (medical tax) for pastor? or
My husband & I started a church years back & in 2020 we decided that he should start receiving a small salary To make long story short, we took out fica
If our church wants to give the Pastor's wife a one time gift designated by the Board of Directors from our General Fund but specific offerings were not
Does one depreciate new sound equipment, total $3,000, but have individual prices? Church Building? I'm new at non-profit accounting and I see no depreciation
Our Ministry Council has no policy on how to manage unbudgeted items and wondered if anyone has a guideline. Do you have a maximum amount that you will
Our church bylaws provides an incentive of making available a $20,000 loan to help our new pastor purchase a home. The loan must be paid back with interest,
Should that amount be be included in his w-2 wages?
Our former pastor is deceased. We give his wife, the former first lady a monthly amount of support. What tax documents should be given at the end of
We have a new Sr. Pastor coming this May. Included in his financial package is an amount to cover health insurance for him and his family. Is this amount
Should I run the Pastor's retirement that the church pays, through his payroll? Our church provides a retirement benefit for the pastor. The church pays
My Church gives me a utility/parsonage exclusion. Should that amount appear on the W-2 and where?
I am a new treasurer for our church which also has a new pastor. Our church has never given a W2 before. I have a federal tax Id number but not a state
If a minister spends more in one month than is designated monthly, can it be considered part of the annual amount and still excluded from taxable income?
I have previously read do not include clergy Housing Allowance in Box 1 taxable income so I know that's the recommendation. However, if this does happen
who needs to sign the letter for taxes purposes regarding a pastors housing?
I live in Cook County, Illinois. Our church currently has a pastoral house which provides as the residence for our pastor. However, the pastor desires