Improving Compensation for Church Staff
A Holistic Approach In the landscape of church leadership and ministry, ensuring that staff are adequately compensated is not just a financial necessity but a spiritual and moral imperative. Church staff members dedicate their lives to serving the congregation and community, often working long hours with a deep sense of calling and commitment. To sustain…
What qualifies as a tax-free love gift?
Gifts given to a minister by individuals out of personal affection, respect, or admiration, and not as compensation for services, can be considered non-taxable. For a gift to qualify as non-taxable, several conditions must be met: Genuine Personal Affection: The gift should be made out of personal feelings of appreciation, respect, or admiration for the…
Are bonuses taxable for ministers?
Taxable Income: Bonuses paid to ministers are considered taxable income and must be reported on their tax return. This includes any additional payments made to compensate for services rendered, even if they are referred to as “love gifts” or other terms. Form W-2: The value of the bonus should be included in the minister’s Form…