Can I as a pastor issue my ministers who minister in my absence a love offering?
Answer
Yes you can; however, it will be taxable income for them as it is for a service. You will need them to fill out a W-9 and have it on file. Then if you give them $600 or more cumulative in a calendar year, you should send him a 1099-MISC from the church.
Hope this helps,
Church Accounting Package
www.freechurchaccounting.com
Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!
2Comments
1099-Misc
VVickey
It is $600 or more annually. I have corrected my statement above. Hope you had them fill out a W-9 :-)
Taxability of Love Offerings
MMarcus in Texas
Is the rule on issuing 1099's "over $600 annually" or is it "$600 or more annually?" This year we paid a supply preacher $600, so I am wondering whether I will need to issue a 1099 since it did not exceed $600.