Video: Q&A: How Opting Out of Social Security Affects Medicare
Today’s video looks at how opting out of Social Security affects Medicare benefits and what happens when pastors already have 40 Social Security credits before opting out.
Amy
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How Does The Minister’s Housing Allowance Affect Children’s Health Insurance Program (CHIP) Benefits?
The Children’s Health Insurance Program (CHIP) is a government insurance program that provides low-cost health insurance to children from families that earn too much to qualify for Medicaid but not enough to be able to afford private insurance. This includes…
Video: Q&A: Can A Pastor Claim The QBI Deduction?
In this video, Amy answers the following questions:– What is the QBI deduction?– Can a pastor claim the qualified business income deduction? – If so, is the housing allowance part of the calculation?
How Pastors Can Avoid Paying Social Security Taxes Without Opting Out
You didn’t opt out of Social Security because it doesn’t violate your conscience. But that doesn’t mean you like paying the tax. There are probably a lot of things you would rather do with that money. Do you have any…
Video: Q&A: How Do You Get The Housing Allowance For A Pastor?
Here’s a step-by-step description of how to set a housing allowance for a pastor, what needs to be done throughout the year, how to report it to the IRS, and what to do if you have excess housing allowance.
The 4 Most Important Retirement Planning Decisions Ministers Need to Make
This is a guest post by Chris Cagle, author of RetirementStewardship.com and The Minister’s Retirement book. I recently published a book review on his book and it got such a good reception that I asked him to write something specifically…
Video: Q&A: Is a Car Payment Taxable Income for a Pastor?
In today’s video, Amy answers a question from a Pastor’s Wallet reader whose church wants to help him purchase a car and he’s wondering if that is considered taxable income.
Video: Q&A: Changing Your Minister’s Housing Allowance
In today’s video, Amy answers a question from a Pastor’s Wallet reader who recently moved and wants to know if they can change their housing allowance after it has already been set by the elders.
Book Review: The Minister’s Retirement, by C.J. Cagle
Today’s post is going to be a review of a book written especially for YOU; The Minister’s Retirement, by C.J. Cagle. The author contacted me through this blog late last year offering to send me a copy and I finally…
Are Pastors Eligible For Public Service Loan Forgiveness?
Clergy and religious workers are now eligible for Public Service Loan Forgiveness (PSLF) based on their religious work. To be eligible, the loans must still be direct, 120 payments must be made, and the borrower must work for a qualifying…