Category Archives: Ministers

Year-End Contributions to Your Retirement Account

Posted on December 3, 2019 by benefitsboard

All pension contributions received in the Board’s office by the close of business on Friday, December 27, 2019, will be posted to the participant’s account and will apply against the participant’s 2019 contribution limits. Contributions received in this office after … Continue reading →

Posted in 12 - December 2019, Charitable Gifts, Ministers, 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

Year-End Contributions to Your Retirement Account

Posted on December 27, 2016 by benefitsboard

All pension contributions received in the Board’s office by the close of business on Thursday, December 29, 2016, will be posted to the participant’s account and will apply against the participant’s 2016 contribution limits. Contributions received in this office after … Continue reading →

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

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

Exempt from Overtime Pay?

Posted on June 1, 2016 by benefitsboard

Many church leaders think that the “wage and hour” laws, and particularly overtime pay rules, do not apply to churches. That could not be further from the truth. Churches and church employees are NOT exempt from the “wage and hour” … Continue reading →

Posted in 06 - June 2016, Ministers | Leave a comment

Tax Webinar Recording is Now Available for Viewing

Posted on March 31, 2016 by benefitsboard

Missed the latest In the Know LIVE Webinar?  We’ve got you covered. A recording of the In the Know LIVE Tax Webinar is now available for viewing on our website.  Simply go to www.benefitsboard.com, click on the Resources Tab, then Webinar Recordings.  A … Continue reading →

Posted in 03 - March 2016, 2016, Ministers, Tax Information | Leave a comment

Incentives for New Participants

Posted on September 9, 2015 by benefitsboard

Time is running out for new participants to take advantage of the $500 matching incentive for 2015. Join the Plan today and the Board will match dollar-for-dollar the first $500 in contributions made this year to your account! Last fall, the … Continue reading →

Posted in 09 - September 2015, Ministers, Retirement Contributions | Leave a comment

Business Expenses

Posted on August 19, 2015 by benefitsboard

Business expenses place more ministers in the “cross hairs” of the Internal Revenue Service than any other issue. Claiming excessive business mileage is probably the number one reason that ministers are audited. Usually, churches will adopt an accountable plan that … Continue reading →

Posted in 08 - August 2015, Expenses, Ministers, Tax Information | Leave a comment

Items Not Considered as Reportable Income

Posted on August 12, 2015 by benefitsboard

Lawyers often jokingly state that there is a simple distinction between tax evasion and tax avoidance – twenty years in federal prison. Hiding income is tax evasion and punishable by imprisonment upon conviction. However, there are several items mentioned within … Continue reading →

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