Tax Law Changes Here are changes to the tax code that were part of the CARES Act: If you were impacted by Covid-19 you can make an early withdrawal from a… Click To Read More "Delano Sherley – Tax Law Changes"
Starting January 1, 2020 employers can offer a new HRA called the Individual Coverage HRA, or ICHRA. This allows you to reimburse (tax-free) employees’ health care premiums and other medical… Click To Read More "Delano Sherley – Health Insurance Update"
We have individuals who work for the church, such as the janitor, lawn maintenance worker, and part-time music director. Can these individuals be classified as contractors and not as employees?… Click To Read More "Aubrey Jayroe – Classified as Contractors?"
I understand there are several changes in the law that affect the minister or church administration. Can you provide some information on these changes? Yes, we are going to… Click To Read More "Aubrey Jayroe – Laws Affecting Church Administration"
There is a white-collar exemption in addition to the ministerial exemption as discussed last month. To be exempt from federal overtime rules, an individual must pass all three of the… Click To Read More "Aubrey Jayroe – Who is Exempt From the New Wage and Hour Laws?"
Do church employees qualify for the new rules governing overtime and minimum wages? In most cases, yes. In order to fully answer the question, there are rules we have to… Click To Read More "Aubrey Jayroe – Rules Governing Overtime and Minimum Wage"
I am interested in purchasing a ROTH IRA. What are the benefits for having this type of retirement plan? A ROTH IRA is a good plan of investment for retirement… Click To Read More "Aubrey Jayroe – Benefits of a Roth IRA"
I have been a traveling evangelist for many years. Are there things that I should be doing that will help me reduce my tax liability? Yes. First of all, you… Click To Read More "Aubrey Jayroe – Tax Liability for Evangelists"
My husband, who pastored for many years, received a housing allowance from the church. He is now deceased and I am blessed that the church is providing some continuing income… Click To Read More "Aubrey Jayroe – Housing Allowances"
I’m a new pastor. How do I go about establishing my compensation package in order to take advantage of all the tax breaks for ministers? First of all, you have… Click To Read More "Establishing Compensation Packages – Aubrey Jayroe"
Who is directly responsible for the financial and legal obligations of the church? Is it a joint responsibility or individual responsibility? This is a multi-faceted question. First of all, it… Click To Read More "Financial and Legal Responsibilities"
It is time to do my taxes as a minister. What do I need to do to ensure I utilize my efforts with my tax preparer so as to have… Click To Read More "Least Possible Tax Liability"