Category Archives: Informational Manuals

Board Manuals Updated for 2019

Posted on January 11, 2019 by benefitsboard

With each New Year comes new rules, new regulations and new contribution limits. Therefore, all the Benefits Board’s free educational manuals have been updated to take into consideration all relevant changes for 2019. You can access the latest version of … Continue reading →

Posted in 01 - January 2019, 2019, Informational Manuals | Leave a comment

Reportable Income for Ministers

Posted on August 5, 2015 by benefitsboard

Ministers and churches often find it difficult to determine or agree upon what is or is not reportable income for the minister. However, it is the treasurer’s job to make this determination since he or she is responsible for reporting … Continue reading →

Posted in 08 - August 2015, Informational Manuals, Internal Revenue Service, Ministers, Tax Information | Leave a comment

Housing Allowance

Posted on August 5, 2015 by benefitsboard

Where a church has no parsonage, generally the church seeks to provide for the housing needs of the pastor by giving him a “ministerial housing allowance” so that he may secure his own home, either by renting or owning. Again, … Continue reading →

Posted in 07 - July 2015, Informational Manuals, Ministerial Housing Allowance, Ministers, Tax Information | Leave a comment

Identifying and Reporting Business and Professional Expenses

Posted on August 5, 2015 by benefitsboard

It is normal for a minister to incur out of pocket business expenses throughout the year as he goes about conducting business for the church. However, many ministers and church treasurers are not familiar with how these expenses are to … Continue reading →

Posted in 07 - July 2015, Expenses, Informational Manuals, Internal Revenue Service, Ministers, Tax Information | Leave a comment

Tax Reporting of Retirement Plan Contributions

Posted on August 5, 2015 by benefitsboard

Retirement plan contributions made by the church on behalf of the minister or a church-related employee are not required to be reported at all on Form W-2. In addition, amounts contributed to the retirement plan by a salary reduction agreement … Continue reading →

Posted in 07 - July 2015, Informational Manuals, Internal Revenue Service, Ministers, Retirement Contributions, Tax Information | Leave a comment

Tax-deferred Retirement Accounts

Posted on August 5, 2015 by benefitsboard

The Minutes of the Church of God General Assembly state that the local church should make contributions “to the Church of God Ministers’ Retirement Plan for the pastor of an amount equal to at least 5 percent of the cash … Continue reading →

Posted in 07 - July 2015, Informational Manuals, Internal Revenue Service, Ministers, Retirement Contributions, Tax Information | Leave a comment

Multiple Homes and the Ministerial Housing Allowance

Posted on April 13, 2015 by benefitsboard

It is not unusual for a minister to own two homes. He may be living in one home and buying another for retirement purposes or he may have lived in one home for a particular pastorate and bought another home … Continue reading →

Posted in 03 - March 2015, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Tax Information | Leave a comment

Parsonage / Housing Allowances – IRS’s Perspective

Posted on April 13, 2015 by benefitsboard

The following article is directly reprinted from the Internal Revenue Service’s Tax Guide for Churches and Religious Organizations (Publication 1828). You may access the entire publication by clicking here: “Generally, a minister’s gross income does not include the fair rental … Continue reading →

Posted in 03 - March 2015, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Tax Information | Leave a comment

Creating a Valid Ministerial Housing Allowance

Posted on April 13, 2015 by benefitsboard

The following simple steps should be taken to assure that the ministers’ housing allowance is created properly: The minister should determine his yearly housing costs by using the Estimate of Housing Allowance form (may be obtained at http://www.benefitsboard.com). The Estimate … Continue reading →

Posted in 03 - March 2015, Informational Manuals, Ministerial Housing Allowance, Ministers, Social Security, Tax Information | Leave a comment

Creating an Accountable Reimbursement Plan

Posted on April 13, 2015 by benefitsboard

Only at tax time do many ministers find out that their “accountable reimbursement plan” is not really “accountable” under the rules of the IRS. Included here is an excerpt from theChurch Treasurers’ Manual, available at http://www.benefitsboard.com without charge, which should … Continue reading →

Posted in 03 - March 2015, Expenses, Informational Manuals, Internal Revenue Service, Ministers, Pay Roll Taxes, Tax Information | Leave a comment