Category Archives: Chaplains/Evangelists

Contribution Limits for 2017

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

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

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

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

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

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

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