Browsing Category Other Financial Topics

Last week we discussed the value of an accountable reimbursement plan for churches now that pastors can no longer deduct their unreimbursed business expenses. Today, I will tell you how to actually set one up. What Makes A Reimbursement Plan Accountable The confusing thing about accountable plans is that you don’t need to file any forms or get any kind of permission from the IRS. We’re used to needing authorization for things, like Form 4361, so we get nervous when we don’t ...

If you’re like a lot of clergy members, you had an unpleasant surprise this tax season when you learned that you can no longer deduct unreimbursed church business expenses with your itemized deductions. You’re probably used to covering a lot of church expenses yourself, knowing that you’ll get some kind of reward for it come tax time. Except this year it didn’t come. Why not? What Happened To The Unreimbursed Business Expense Deduction Part of the 2017 Tax Cuts & Jobs Act was ...

As a parent, have you ever seen one of your kids walking down the hallway with a large stick and been forced to ask, “And what are you planning on doing with that?” You don’t ask because you’re particularly interested in the stick. You ask because that stick is a sign that something is going to happen soon. And you’re going to have to deal with the consequences. The Growing Popularity Of Modern Monetary Theory Well, some prominent left-leaning politicians are waving around ...

Religion is not always the first thing we think of when working with a professional. However, because money is such a personal and values-driven topic, it can make a big difference to work with someone that shares your worldview.

This is a guest post by Ben Wacek, Certified Financial Planner® and founder of Guide Financial Planning, where he offers clients Bible-based financial guidance both in-person in Minnesota and virtually throughout the country. View post

The most popular Pastor's Wallet blog posts of 2018, based on number of views. View post

Today and tomorrow people all around the world are celebrating the fact that the creator of the universe found it worthwhile to come to Earth in human form to give us a chance at a relationship with him.   In light of this mind-blowing truth, you really have no reason to worry about anything that I am going to write about in this article. None of it really matters in light of eternity. However, with all of the media headlines these ...

Now that Thanksgiving is over and the Christmas season is in full swing, I wanted to write a Christmas themed blog post. Two years ago I gave you 10 Simple Ways To Earn Extra Money For Christmas, which is still pretty useful. This year I’m going at it from the other side. View post

Though it may seem old-fashioned, there is one thing you can do financially that is guaranteed to get you ahead, no matter your income, season of life, place of residence, or personal circumstances. View post

This is a guest post by Michael Kostelnik, a pastor and financial planner at Family Life Financial Planning, where he enables people to keep faith and family first by helping them with their finances. View post