This accounting blog...
Is Housing Allowance included on Form W-2, Box 1 (Wages, Tips, Other Compensation)
What day can I start counting expenditures towards housing allowance? First official start day at work or before that? I moved from one state as a pastor
Due to COVID, receipts of cash contributions were low. The church had me do a W2 for pastors housing allowance. The fact is they now are asking me
Can our youth minister have his entire salary in housing allowance since he is bi-vocational?
We are a small congregation less than 40 persons. In the past we have not designated a 'Housing allowance' and given the pastor a 1099-Misc for the
if we give a love gift to members of the worship team will we have to issue a 1099-misc if it is over $600.00? Susan
Can a pastor donate his own 401(k) or 403(b) assets to the church, thereby, avoiding the taxes on the withdrawal of the funds then get the church to build
Can we give a contribution receipt to a family that made a monetary donation to the church that used the building for a wedding? They are not members
Our Church owns a Parsonage which our newly chosen ordained pastor and his family will live in. It is my understanding that the fair market (utilities
Is the 7.65% social security allowance hard and fast or can a different amount be offered?
I work in two places, one is a hospice chaplain and a church pastor. These two places that offer housing allowances, is it legally correct to receive housing
A member in our church has his private ministry to the marginalized but has no NPO. Can our church or NPO receive donations for this guy’s ministry and
We started our pledge campaign for the upcoming July - June fiscal year (it is now May). We are receiving donations for these future pledges, most are
Church embezzlement is on the rise. Learn what you can do to protect your church against this financial crime.
In a situation where our pastor has an agreed upon housing allowance, but the church also has a budget line where we pay his utilities. Should the utilities
I recently qualified for housing allowance and have my mortgage set up under a 1st position/lien HELOC. I would guess the interest payments on the HELOC
Our part-time clergy receive their full pay as designated HA. My understanding is that it is NOT included in the wages reported on our Qtrly 941s.
Does my church have to file a 990-T or any tax form for profit from an investment used to further its nonprofit mission?
I am employed by my church as the senior pastor. For nearly 30 years they have outright paid for my health insurance plan. I am turning 65 and the church
If a Minister retires from the Govt/Military (was a military minister) and receives a 1099-R for retirement pay, but then starts a second career as a minister
I am a tax professional who does many clergy tax returns and think I know all the rules but... Several years ago I had a client start teaching at a
I would like to make sure I am completing my quarterly 941 correctly with regard to our Pastor's compensation. Here are sample (not actual) amounts:
I use QBO for our church accounting. I need to transfer funds from our general fund to our designated building fund. I use classes in QBO. Both funds
The pastor is an employee of the church but he receives donations outside of his W2. Shouldn’t the pastor receive a 1099 as well?
The church has one EIN. One accounting firm will file 941 for the church's mission employees. A second accounting firm will file a 941 for the church's
This past year, a new member started designating gifts to our two pastors each week. One is a close relative to whom he gives a couple hundred each
Last yr the Pastor was part-time and not yet qualified as a licensed pastor, so he got a housing allowance and Fica was taken from his wages which the
One accountant stated that the allowable business reimbursement arrangement for the pastor could be used to cover medical expenses. The church provides
My denomination designates my pension as housing allowance and has an IRS letter confirming that designation. Beginning in June 2020 we live full time
We have a part-time associate pastor who we are looking to convert to hourly (rather than PT salary). Currently, a portion of his salary is allocated as