Why Don’t Churches Pay Payroll Taxes For Ministers?
Tax season has just come to an end and most of us are either eagerly awaiting a return or bemoaning how much we had to pay. The rest of you filed an extension and are still trying to get your…
Tag church employees
Are You Eligible To Make Extra 403(b) Contributions?
People over 50 are eligible to make extra contributions to their 403(b) plans. However, some plans even let younger people make extra contributions. Here is everything you need to know regarding eligibility, limits, etc. for making extra contributions to your…
Why Do Church Employees Pay Self-Employment Taxes?
If you are a church employee, you may have to file Schedule SE (even though you’re not self-employed) and pay double payroll taxes. This is why.
How Can A Church Reverse Its FICA Exemption?
Several months ago, I got an email that had me stumped. The writer was from a church that was exempt from paying FICA (payroll) taxes but wanted to start paying them. Since I was unsure how to answer the question,…
How To Set Up A Church Accountable Plan To Reimburse Ministry Expenses
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…
How Pastors & Church Employees Can Get A Tax Break For Their Unreimbursed Business Expenses
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…
The Top 10 Personal Finance Blog Posts For Pastors Of 2018
The most popular Pastor’s Wallet blog posts of 2018, based on number of views.
How To Celebrate Administrative Professionals Day For Free
Next Wednesday, April 25, is Administrative Professionals Day. Formerly called Secretaries Day, it was begun about 70 years ago to appreciate certain office workers who are often taken for granted. While it isn’t as popular as Christmas and Easter, those…
The Top Personal Finance Blog Posts For Pastors Of 2017
Merry Christmas! For the last post of the year, I thought I’d do a recap of the 10 most popular posts of 2017, in case you missed one of them. Here they are, in order of popularity:
Big Refund? Awesome! Or Is It? The Truth About 10 Common Tax Beliefs
Taxes are a huge part of our lives as American citizens. However, there’s a lot of confusion when it comes to taxes. After all, the Federal Tax Code has about 3 million more words than the Bible. There are a…