by church admin
(NC)
This year Pastor's insurance cost was lower than the amount budgeted from his package. At the end of the year do we:
1. let it expire, that budget balance to remain unpaid and so is "lost" as it represents the approved budgeted amount voted on by the church.
2. add the balance to his salary where it will become subject to tax.
3. apply it to his retirement as a one time payment since the insurance and retirement are both pretax categories.
4. something else?
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 =)