Can money in a 403(b) be claimed as a housing allowance in retirement for someone living in a life care facility where the cost includes meals and medical care? How should that situation be handled?
Today’s post is written by Chris Wells, a CERTIFIED FINANCIAL PLANNER® professional and Certified Kingdom Advisor® who works with pastors and Christian families to help them make healthy financial decisions and become wise financial stewards. His firm, Flourish Financial Planning,…
If your church has a budget for tax-free ministry-related travel expenses, does that include family members’ expenses if they travel to a conference with you?
In 2017, I started the tradition of ending the year with a report of the top 10 most viewed blog posts on Pastor’s Wallet. I thought it might be helpful for new subscribers and others who may have missed something…
Can churches pay Social Security taxes for their pastor? What if the employment agreement says they will?
The Apostle Paul told Timothy in 1 Timothy 5:17-18 that “The elders who direct the affairs of the church well are worthy of double honor, especially those whose work is preaching and teaching. For Scripture says, “Do not muzzle an…
Do cell phones qualify for the clergy housing allowance? If not, is there any way for a church to cover the cost for their pastor?
When you get married, two become one and you set out on the exciting journey of building a life together. You dream about the ministry you’ll have together, what your kids will look like, even the sports that they’ll play.…
A look at how the clergy housing allowance works and why you can still claim it even without a mortgage.
You’ve been paying in year after year. After year. After year. And paying double on top of that. Over fifteen percent of your income has been going towards Social Security since you entered the ministry. When does it all pay…