2022 Church & Clergy Tax Guide
2022 Church & Clergy Tax Guide – Pre-Orders Today! The expected release date is Jan 31st, 2022 Find comprehensive help understanding United States tax laws as they relate to pastors and churches with Richard Hammar’s 2022 Church & Clergy Tax Guide. Tax law in general is highly complex and ever changing. Add to that the many unique rules…
Online W-2 and 1099 Filing for Churches
Start Filing W-2 and 1099 Forms today! Online W-2 and 1099 Filing for Churches The W-2 Form is probably one of the most common tax forms used by churches today, as every employee must receive one prior to filing their income taxes out and every employer must produce them. The mere mention of filing a…
W-2 vs. 1099: Which workers get which?
W-2 vs. 1099: Which workers get which? As the economy continues to expand, churches now more than ever need to possess a thorough understanding of the classification for each person performing services for the church. Knowing whether the IRS views someone as your employee or as an independent contractor dictates tax obligations and associated paperwork,…
The Myths of the 1099-NEC forms
The Myths of the 1099-NEC forms 1099-NEC is a new form, as of the 2020 tax reporting year that has replaced some of the functions of 1099-MISC. The IRS requires you to report information about people who perform work for the church but are not on the payroll. This involves filling out Form 1099-NEC: Nonemployee Compensation. Unlike…
Are contributions effective for 2021 or 2022
Are contributions effective for 2021 or 2022 It’s that time of year again when many people add charitable giving to their busy holiday to-do list. Year-end giving can come with great benefits, of course, and now is a good time to refresh on some highlights, as well as finer points that can get donors in…
New Standard Mileage Rates for 2022
New Standard Mileage Rates for 2022 Beginning on January 1, 2022, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes…
Qualified Disaster Relief Payments
Qualified Disaster Relief Payments As the pandemic moves into a new phase and churches and offices are starting to resume normal operations, it may be time to revisit Internal Revenue Code (the Code) Section 139, an underutilized and often overlooked Code Section. It is an opportunity for churches to reimburse individuals for prior and ongoing…
What is an exit interview?
What is an exit interview? An exit interview is a conversation with a departing employee about their time at the church and the reason for their departure. It’s completely optional, but some employers conduct them to learn about workplace issues they may want to address. Exit interviews can be a good opportunity to get the…
Church Business Preparations for Year’s End
Church Business Preparations for Year’s End Like other corporate entities, churches encounter business activities that must be completed just before, or soon after, the end of the calendar year. Now is the time to make plans for these various tasks. The questions that follow can be used as a checklist for church leaders. Have clergy…
Reporting Group life Insurance
Reporting Group life Insurance Group-term life insurance, or group life insurance, is an insurance policy that covers a group of people, like employees in a church, rather than individuals. A group-term insurance plan is a fringe benefit, which is a benefit offered in addition to an employee’s regular wages. There are taxable and nontaxable fringe benefits….
