The first step in this process is to analyze the type and tax status of your retirement savings. For this purpose, divide your accounts into three categories: Taxed Later: Traditional IRAs, 403(b), and 401(k)s are types of savings accounts that give you a tax deduction at...
Church HR requires a specific balance between compliance and culture and having gaps could cost you money and time, not to mention staff morale and relational capital with your congregation. If you’re juggling 17 different hats (including “HR” anything) but don’t have the time or...
Now that President Biden has announced student loan relief, the state tax treatment of forgiven loans is of interest to many ministers. Ministers who have student loans forgiven are spared a federal tax bill, but not all states treat forgiven loans the same. A forgiven loan amount is...
Question: Can we require staff to cover tattoos? Answer: Simply answered, yes. But we recommend following your written dress code policy on this matter, which is generally in your Staff Handbook. Tattoo policies usually depend on the culture of the organization and the image they want...
You cannot deduct the costs of taking a bus, trolley, subway, or taxi or driving a car between your home and your main church or regular place of work. These costs are personal commuting expenses. You cannot deduct commuting expenses no matter how far your...
Individual Coverage Health Reimbursement Arrangements (ICHRAs) first became available in 2021. ICHRAs allow employers to reimburse employees for individual health insurance coverage (or Medicare coverage) that employees obtain on their own. ICHRAs provide employers with an alternative to offering traditional group health insurance coverage to...
There are certain documents all people should keep in an important place for future reference, such as a birth certificate, a social security card, or a last will and testament. For ministers, there are a few other important documents that should be retained and kept...
Whenever a minister or other church employee relocates to begin a new position, the question of moving expenses commonly arises. The assumption routinely made by both the transitioning employee and the new employer is that the church can help pay moving expenses as an incentive...
If you are a member of the Clergy, you may have seen the phrase “Social Security Allowance” on your W-2 or it might be a part of your compensation package. But what does that mean exactly? To understand, we have to explain a difference between Clergy...
The W-4 form contains five steps. Not every step is applicable to every employee, so some sections might correctly remain blank. Step 1 Here, clergy and nonclergy would provides personal information. Make sure the name, address, and social security number entered match what Payroll has on...