Category Archives: 12 – December 2014

Board Grants Year-End “Bonus” to Participants

In the recent meeting of the Board of Directors of the Church of God Benefits Board, the entity charged with managing the Ministers’ Retirement Plan, action was taken to grant a special year-end interest allocation to all participants in the Trustees’ Fund. … Continue reading

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Posted in 12 - December 2014, Investments, Retirees, Retirement Contributions, Retirement Distributions, Stock Market, Withdrawals | Leave a comment

New Resource and Tax Manuals Available

To help ministers and churches deal with the ever changing and even more complex tax laws, two new manuals have been added to the Benefits Board web site. The manuals are used by permission of the Evangelical Council of Financial … Continue reading

Posted in 12 - December 2014, Informational Manuals, Internal Revenue Service, Tax Information | Leave a comment

IRS Announces 2015 Standard Mileage Rates

The Internal Revenue Service recently issued the revised standard mileage rate which is used to calculate the deductible costs of operating an automobile for business purposes during 2015. Beginning January 1, 2015, the standard mileage rate for the use of … Continue reading

Posted in 12 - December 2014, Expenses, Ministers | Leave a comment

NO Reimbursement of Certain Health Insurance Policies with Pre-Tax or After-Tax Dollars

While most churches thought that they were exempt from the major impacts of the Affordable Care Act (often called “ACA” or “ObamaCare”), a seemingly innocuous Internal Revenue Service notice, issued in September 2013, has been interpreted to place many churches … Continue reading

Posted in 12 - December 2014, Health Care, Ministers, Pay Roll Taxes | Leave a comment