Auto and Other Business Expense Reimbursements
Auto and Other Business Expense Reimbursements Importance of Full Reimbursement For years it has been a significant income tax advantage for church employees to have ministry-related expenses reimbursed by the church. The best way to do this has been through use of an accountable reimbursement plan, which put an entire dollar back in the employee’s […]
Minister’s Housing: Parsonage or Housing Allowance?
Minister’s Housing: Parsonage or Housing Allowance? “Should we continue to provide a parsonage and utilities or should we change to a cash housing allowance and let our pastor buy his own home?” This difficult question is asked often out of genuine concern for the pastor’s dilemma at retirement, when he or she has no savings […]
Who Is a Minister for Tax Purposes?
Who Is a Minister for Tax Purposes? “Who is a ministerial employee for tax purposes?” The answer is significant because it affects how an individual reports compensation and pays taxes. Perhaps the greatest single issue this affects is how to report the value of housing provided and/or the amount of housing allowance paid. (See “Housing for Your Pastor: […]
Is a Housing Allowance Taxable?
Is a Housing Allowance Taxable? Housing Allowance and Taxes For more than 70 years, we have provided financial education and vital planning tools for churches and servants of the church. The tax code involving the Minister’s Housing Allowance has been revised only twice in the last 100 years—in 1954 and in 2002—and Servant Solutions was there, as always, to help […]
Filing Form 1099-MISC
Form 1099-MISC and Form 1099-NEC Information Internal Revenue Service (IRS) Form W-2 is a familiar form. Most administrators are comfortable preparing and issuing Form W-2 to employees. However, the issuance of Form 1099-NEC is often overlooked. Prior to 2020, Form 1099-MISC was filed to report non-employee compensation; going forward Form 1099-NEC is to be used […]
Healthcare Resources and Considerations for Churches
Healthcare Resources and Considerations for Churches Resources for Coverage If you are the benefits coordinator for your group, or, if you are a one-employee organization responsible for your own coverage, consider contacting the following organizations: Individual Healthcare Coverage Options eHealthInsurance at www.ehealthinsurance.com or at 844-764-6386 Healthcare exchanges (or Marketplaces) under the Affordable Care Act (ACA) at www.healthcare.gov. AARP […]
30s decade
How should your finances look in your 30s? Financial success looks different for each of us. The 30s decade is a prime time for writing your own story regarding your financial success…both for the present and for the future. Servant Solutions wants to help you write a life story that has a positive ending through every stage […]
20s decade
How should your finances look in your 20s? Financial success looks different for each of us. The 20s decade is a prime time for writing your own story regarding your financial success…both for the present and for the future. Servant Solutions wants to help you write a life story that has a positive ending through every stage […]
40s decade
How should your finances look in your 40s? Financial success looks different for each of us. The 40s decade is a prime time for writing your own story regarding your financial success…both for the present and for the future. Servant Solutions wants to help you write a life story that has a positive ending through every stage […]