Category Archives: 2017

IRS Announces 2018 Standard Mileage Rates

Posted on December 27, 2017 by benefitsboard

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 2018. Beginning January 1, 2018, the standard mileage rate for the use of … Continue reading →

Posted in 12 - December 2017 | Leave a comment

Year-End Contributions to Churches

Posted on December 22, 2017 by benefitsboard

As we approach the end of each year, there are always questions about the tax deductibility of charitable contributions made to local churches. The rule is relatively simple – donors must deliver or mail (with the postmark visible) checks on … Continue reading →

Posted in 12 - December 2017, Charitable Gifts | Leave a comment

Board Grants Year-End “Bonus” to Participants

Posted on December 20, 2017 by benefitsboard

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 … Continue reading →

Posted in 12 - December 2017, Investments | Leave a comment

Year-End Contributions to Your Retirement Account

Posted on December 18, 2017 by benefitsboard

All pension contributions received in the Board’s office by the close of business on Thursday, December 28, 2017, will be posted to the participant’s account and will apply against the participant’s 2017 contribution limits. Contributions received in this office after … Continue reading →

Posted in 12 - December 2017, Retirement Contributions | Leave a comment

Housing Allowance Held Unconstitutional

Posted on December 18, 2017 by benefitsboard

On October 6, 2017, a federal district court judge in Wisconsin ruled that the ministerial housing allowance violates the Constitution. Judge Barbara Crabb held that Section 107(2) of the Tax Code, the provision that specifically addresses the “cash” ministerial housing … Continue reading →

Posted in 12 - December 2017, Ministerial Housing Allowance, Ministers | Leave a comment

Trustees’ Fund Rate for 2018

Posted on December 15, 2017 by benefitsboard

In the recent meeting of the Board of Trustees of the Church of God Benefits Board, the entity charged with managing the Ministers’ Retirement Plan, the return on the Trustees’ Fund was set at four percent (4.00%) for 2018. In a time … Continue reading →

Posted in 12 - December 2017, Investments | Leave a comment

Housing Allowance Held Unconstitutional

Posted on October 10, 2017 by benefitsboard

As expected, a federal district court judge in Wisconsin has ruled that the ministerial housing allowance violates the Constitution. In a ruling dated October 6, 2017, Judge Barbara Crabb held that Section 107(2) of the Tax Code, the provision that … Continue reading →

Posted in 10 - October 2017, 2017, Ministerial Housing Allowance | Leave a comment

In the Know LIVE

Posted on January 5, 2017 by benefitsboard

January 18, 2017 2:00 – 2:30 PM EST The new year is underway and tax season is quickly approaching, but don’t let the stress of it weigh you down.  To help you prepare, join us Wednesday, January 18th for In … Continue reading →

Posted in 01 - January 2017, 2017, In the Know LIVE | Leave a comment