Incorporation Can Protect Church Members

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There are 4 item(s) tagged with the keyword "finance".

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1. Dual Tax Status: What Does It Mean for Your Pastor?

Under federal law, most ministers have dual tax status. Dual tax status means a minister is an employee of the church for federal income tax purposes, and self-employed for Social Security and Medicare taxes. Here’s what you need to know.

Tags: church payroll, finance, IRS regulations, paying employees, tax code
2. Does Your Pastor Really Have 99 Kids?

Submitting an accurate Form W-4 is important, so unsurprisingly, an inaccurate claim can have serious consequences. Some ministries are claiming 99 dependents on their pastor’s Form W-4 to ensure that a pastor’s pay is not subject to federal income tax. Learn more about why this and other inaccurate claims should be avoided.

Tags: finance, tax code, IRS regulations
3. Income Tax Results Made You Sick? It's Time for a Checkup.

Back when you started your job, you likely filled out a Form W-4. Since then, life has changed—possibly with a marriage, a new child, or a raise. Now that income tax filing season is over, did you end up owing taxes, when you expected a refund? Or perhaps you experienced month-to-month budgeting issues, because too much was being withheld from your wages.

Tags: church payroll, finance, IRS regulations, paying employees, tax code
4. April is Triple Tax-Deadline Month for Many Ministries

For many ministries and their employees, April is a triple tax-deadline month. Does your ministry have the following dates circled on its calendar?

Tags: church payroll, finance, IRS regulations, paying employees, tax code

Displaying: 1 - 4 of 4