Tag: ministerial income
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2 Housing Allowance Tips
As you plan for life and ministry in the coming year, use these 2 housing allowance tips to save the most on your taxes: #1 Create a Good System You need to have receipts to prove your expenses come tax time. Hopefully the IRS will never ask for them (yeah, that would be an audit), […]
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Avoid this Pastoral Housing Allowance Penalty
The pastoral housing allowance can be a great tax deduction for pastors. But if you don’t prepare for the surprise swap up on your taxes, you may end up paying a housing allowance penalty. I have seen church planters fall prey to this and wind up with a huge tax bill come April. To be […]
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Free Housing Allowance Calculator
Setting a Pastoral Housing Allowance continues to be one of the more confusing things to figure out for church planters. Below is a Free Housing Allowance Calculator that should help. First, some important things you need to keep in mind: The Rules You have to be an ordained, licensed or commissioned pastor You have to […]
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Opting Out of Social Security
The IRS allows for ministers opting out of social security if they have a conscientious objection to it on religious grounds. There are strong opinions out there about whether or not ministers should opt out or stay in. The Case for Staying In Staying in keeps you enrolled in social security benefits: retirement income health […]
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How Much to Pay Church Plant Staff (1 of 2)
Figuring out how much to pay church plant staff can be daunting, especially if you’ve never been in a lead pastor role. He are some resources to help you determine salaries and benefits. Before we jump right in to numbers, though, there are a few IRS-audit-avoidance things you should be considering in the hiring process. […]