Pastor Pay Label on Church Financial Report
Question regarding pastor's pay:
First and foremost I would like to thank you for your website and all the great information and updates you send out. We have learned a great deal and have been able to keep our records organized.
Every quarter we have a financial report submitted and on the expense report we label our pastor's pay as a love offering.
I don't think that this would be the correct thing to call it as we are actually paying him.
What do you suggest we call it or is it a love offering? We pay him the same amount every month.
Your assistance and advice is greatly appreciated.
You can call it a love offering, wages, salary, or whatever you want on your report.....however...it is taxable income to your Pastor.
A nontaxable love offering would have to be spontaneous and NOT for a service performed. Your Pastor’s regular monthly amount would not fall under that category and would need to be reported as taxable income at the end of the year.
And...from the bottom of heart...thank you for your kind words. You have no idea how much comments like yours encourage and uplift me :-)
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