With the holiday season approaching, we’re all getting into the giving spirit. This is definitely my favorite time of the year. What a great time to consider showing your staff members just how much you appreciate their work and dedication. But what about those gifts and what are the tax implications of gifts to employees.… Continue reading Gifts For Your Church Staff
The health Care Reform law has some provisions for churches to take advantage of a tax credit for health care premiums paid to employees. There are several contingencies required and it definately benefits smaller organizations but the video is worth watching. The credit is payable in cash since churches generally do not pay taxes. Check… Continue reading A Tax Credit for Churches?
You aren’t the only one with questions about payroll for ministers. There are many items to take into account regarding ministers’ compensation. This article will focus on social security.
Dual-status ministers are treated as self-employed individuals in the performance of ministerial services for social security purposes. Dual-status means that the minister is an employee for income reporting, fringe benefit, and expense deducting purposes and self-employed for social security purposes.