Paying Estimated Taxes: 3 Tips for Clergy Staff Members

If you’re a minister, you must pre-pay a substantial portion of the taxes you’ll owe for that year in estimated quarterly payments to avoid penalties. Tip # 1: Make your payment on time   The US has a pay-as-you-go tax system, meaning the IRS expects you to make...

Employee Loans and Their Tax Consequences

A salary, or wage, advance is a type of short-term loan from an employer to an employee. The employee receiving the advance must pay back the money within a specified time frame, as dictated by the company's salary advance policy. Under federal law, employers can make...

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