FICA tax for life insurance over $50,000

by Curt Kvamme
(Rice MN 56367 USA)

We just hired a Pastor who will get a W-2 but is considered self employed.

How do I handle the life insurance costs on his paycheck for the FICA tax? He has no FICA wages. The W-2 shows amounts in box 1 but not 3 and 5.

It'll be only about $10-15 per month but I want to set it up correctly in Quickbook so there's no problems down the road at year-end.

Thank You!

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Fringe Benefits.

Need a Consultation, help setting up an effective Accounting System, or someone to do your monthly bookkeeping and/or payroll?

Contact Me!

Recommended Resource!

Online classes/courses on how to use QuickBooks Desktop and QB Online for a church!

Click here for more details!

Use coupon code "FCA" for 10% discount!