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!
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 =)