HR Hot Topic: Late Timesheets?
Our employees often don’t turn their timesheets in on time. If an employee doesn’t submit his sheet on time, can we delay processing his paycheck until the next pay period? Getting employees to turn timesheets in on time can be a challenging problem for employers. It is the employer’s obligation to pay employees on the…
Time to review PTO policies?
Even if your church is not located in a state or city with a mandatory PTO sick leave law, you should be proactive and make sure that the church’s PTO and sick leave policies are clearly defined and clearly communicated to employees. Even if your church is exempt from FMLA, it may be in the…
Get the Most Out Of Your Charitable Giving
Charitable donations can do more than help your church, they can save you a lot of money come tax time. Whether you are looking to give $50 or $5,000 there are a slew of ways to maximize the gift of giving. The benefits primarily center around tax deductions. You are able to take dollar-for-dollar deductions….
What is FICA?
The Federal Insurance Contributions Act is the federal law that requires you to withhold two separate taxes from the wages you earn. It includes Social Security Tax and Medicare Tax at a flat percentage rate. The Social Security Tax is 6.2% rate of your wages, and the Medicare Tax is 1.45% of your wages. You’re…
401(k) & 403(b) Contributions Limits Increased for 2015
The Internal Revenue Service today announced cost‑of‑living adjustments for pension plans and other retirement-related items for tax year 2015. The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,500 to $18,000. The catch-up contribution limit for employees aged 50…
Still Time to Act to Avoid Surprises at Tax-Time
Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid owing more taxes than you expect. Here are some actions you can take to bring the taxes you pay in advance closer to what you’ll…
Extended Tax Deadline Expires Oct. 15
If you are one of the nearly 13 million taxpayers who asked for more time to file your federal tax return this year, the extra time is about to expire. If you owe taxes the best way to pay them is with IRS Direct Pay. It’s the simple, quick and free way to pay from…
Employees versus Independent Contractors
Incorrectly classifying someone as an independent contractor instead of an employee can be very costly for the church based on IRS penalties. When in doubt, your best bet is to classify someone as an employee. If you really want to classify an individual as an independent contractor, you can’t dictate how much time they spend…
Identity Theft Protection
Each year during tax season, millions of people are exposed to identity theft when their 1099-MISC and W-2 forms are sent through the mail. Our CyberCabinet protects you, your employees and your contractors. The CyberCabinet offer you an ultra-convenient way to access documents, transfer data, and convey information 24/7 from any Internet connection. Source: Clergy…
Individual income tax returns are due October 15.
Remember the extended due date for 2013 income tax returns is October 15, less than two months away. If you haven’t done so already, order and complete your clergy tax organizer which is required to prepare your tax returns. The third quarter federal estimated tax payment for clergy is due September 15. Most clergy who…
