Category Archives: Chaplains/Evangelists

Contribution Limits for 2017

Posted on December 21, 2016 by benefitsboard

The Internal Revenue Service recently announced the new pension plan contribution limits for 2017. While there are many different limits that impact pension plans, the main limits that effect participants in the Ministers’ Retirement Plan are as follows: The salary reduction … Continue reading →

Posted in 12 - December 2016, Chaplains/Evangelists, Ministers, Retirement Contributions | Leave a comment

New Overtime Rules Webinar

Posted on October 18, 2016 by benefitsboard

In the Know LIVE Webinar Friday, November 18th 2:00 – 2:30 PM EST Topic: Overtime Rules Many church leaders think the “wage and hour” laws, and particularly overtime pay rules, do not apply to churches.  However, that could not be … Continue reading →

Posted in 10 - October 2016, Chaplains/Evangelists, Ministers, Pay Roll Taxes | Leave a comment

Christian Legal Society Webinar

Posted on July 6, 2015 by benefitsboard

There are many ramifications of the same-sex marriage decision handed down recently by the U.S. Supreme Court. The Christian Legal Society will host a special webinar on Wednesday, July 8 at 2:00 pm (Eastern) to discuss the impact of this … Continue reading →

Posted in 07 - July 2015, Chaplains/Evangelists, Ministers | Leave a comment

Audit Tips

Posted on March 6, 2015 by benefitsboard

Your chances of being audited by the Internal Revenue Service are going up, but only slightly. For example, in 2001 the IRS audited 732,000 individual returns compared to only 618,000 in 2000. However, in 2014 the IRS was expected to … Continue reading →

Posted in 03 - March 2015, Chaplains/Evangelists, Charitable Gifts, Form 1099, Form W-2, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Pay Roll Taxes, Social Security, Tax Information | Leave a comment

Mileage

Posted on February 11, 2015 by benefitsboard

Documentation of expenses is vital to an acceptable accountable reimbursement plan. Mileage driven in the course of business is generally the minister’s greatest expense. Some ministers have contended that every mile they travel is in the furtherance of their business … Continue reading →

Posted in 02 - February 2015, Chaplains/Evangelists, Expenses, Informational Manuals, Internal Revenue Service, Ministers, Tax Information | Leave a comment

No Self-Employment Tax on Retirement Income from Benefits Board

Posted on February 11, 2015 by benefitsboard

At tax time, the Benefits Board gets a lot of questions about the IRS Form 1099-Rs that are sent to participants in January showing the amount of the participant’s distributions for the previous year. The most common question regards whether … Continue reading →

Posted in 02 - February 2015, Chaplains/Evangelists, Informational Manuals, Internal Revenue Service, Ministers, Retirees, Retirement Distributions, Tax Information | Leave a comment

Reporting Contributions by Chaplains and Evangelists

Posted on February 13, 2014 by benefitsboard

Chaplains and evangelists are the only participants in the Ministers’ Retirement Plan who can make direct contributions by personal checks to their retirement accounts. All others must make their contributions by salary reduction or by employer contributions through an employer … Continue reading →

Posted in Chaplains/Evangelists, Retirement Contributions | Leave a comment

Year-End Contributions to Your Retirement Account

Posted on December 6, 2013 by benefitsboard

All pension contributions received in the Board’s office prior to Noon (EST) on Monday, December 30, 2013, will be posted to the participant’s account and will apply against the participant’s 2013 contribution limits. Contributions received in this office on or … Continue reading →

Posted in Chaplains/Evangelists, Ministers, Retirees, Retirement Contributions, Tax Information | Leave a comment

Court Holds Ministerial Housing Allowance Unconstitutional

Posted on November 25, 2013 by benefitsboard

In a ruling that came early, but that was expected, Federal District Court Judge Barbara Crabb of Wisconsin struck down a law that allows ministers a tax-free housing allowance. In a decision issued on Thursday, November 21, 2013 – almost … Continue reading →

Posted in Chaplains/Evangelists, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Retirees, Tax Information | Leave a comment

Reporting Contributions by Chaplains and Evangelists

Posted on February 22, 2013 by benefitsboard

Chaplains and evangelists are the only participants in the Ministers’ Retirement Plan who can make direct contributions by personal checks to their retirement accounts. All others must make their contributions by salary reduction or by employer contributions through an employer … Continue reading →

Posted in Chaplains/Evangelists, Form 1099, Form W-2, Internal Revenue Service, Ministers, Retirement Contributions, Tax Information | 1 Comment