Category Archives: Informational Manuals

Board Manuals Updated for 2019

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

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

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

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

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

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

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