Yes.
There you have it, shortest blog post ever.
But in all seriousness, this is an important matter that can make a huge difference during your retirement. If you didn’t take saving for retirement seriously during your early years, even just receiving a little help from the Social Security Administration could make a big impact your monthly income in retirement.
Sounds great. So how does it work? Well, there are two ways:
This post breaks down all of the major types of income a pastor can earn and explains how the IRS treats them for Social Security, income tax, retirement plan and payroll tax purposes. It is based on IRS Publication 517.
Airbnb is a great way to earn extra income. However, renting out part of your home affects your ability to take the ministerial housing allowance.
This is a guest post by Stephanie Anderson of Andersonswife.com. She and her husband, Trevin, are pastors at Mannahouse in Portland, OR.
Stephanie Anderson of andersonswife.com.
Last week we discussed skills that you’ve developed as a pastor that are transferable to the secular marketplace. It was a very popular topic, so today I’m going to take it a step further and look at how to present those skills in a resume that will get you noticed. If you haven’t yet, it would be helpful to go back and read last week’s post before continuing on.
Whether or not you realize it, as a pastor you already possess many skills that are in high demand in the secular marketplace. You simply must recognize your skills and translate them into the proper marketplace vernacular for the job you want.
Federal tax laws are so complicated that most people outsource tax preparation and have little understanding of how it all works. Do you know how your taxes are calculated? Or the difference between a credit and a deduction? It’s your hard-earned money and your government, so you really should.
