W-2 and 1099 Filing: What You Need to Know
The IRS requires churches to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of your housing, federal, and state withholdings. As a non-clergy or clergy employee, the information on your W-2 is extremely important when preparing your tax return. To insure you have it in time, the IRS…
Ask the Pros – Clergy Tax Law
Researching a clergy issue on your own takes time and can leave you wondering if you’ve got the right answer. Turn to Clergy Financial Resources to save time while getting the correct answers. Most callers want answers to specific questions on tax returns, interpretations of new laws or maybe you don’t have time to find the answer…
Do you need an official designation for Housing allowance?
2018 Housing Allowance Form The allowance must be officially designated in advance by the church. The designation should be stated in writing, preferably by resolution of the governing body and/or in an employment contract. In addition, the designation should be recorded in the church budget and payroll records. If the only reference to the housing allowance is…
Can an employee submit a new W-4 at any time?
Yes, an employee may submit a new W-4 anytime they have changes. Often, they’ll submit a new form when they know they’ll be changing exemptions, adjustments, deductions, or credits on their return. For example, an employee may want to increase their withholding by decreasing the number of dependents they claim. Or they might want to…
Support Plans
We believe all churches and clergy should get the tax, payroll and HR support they need. Explore the range of support plans which allows you to choose the best plan for you. For more than three decades, churches and clergy have been turning to Clergy Financial Resources to get straight to their answers. Get the right level of support! We…
Clergy Membership
Welcome to Clergy Membership – We’re here for you, the expert, and invite you to become a part of our organization. You’ll receive all the support, education, discounts and weekly updates. We’re your most trusted, comprehensive and cutting edge resource for clergy tax expertise. Setting the industry standard for excellence and integrity is what we have been doing…
Become a Member
Membership Benefits Ask a Tax Pro Members receive 5 free questions each calendar year. Researching a tax issue on your own takes time and can leave you wondering if you’ve got the right answer. Turn to Clergy Financial Resources to save time while getting the correct answers. When you need an answer, our support staff is ready…
BREAKING NEWS: Injunction Issued on New Overtime Laws
On November 22, 2016, U.S. District Judge Amos Mazzant granted a preliminary injunction on the new overtime rules that were to take effect December 1, 2016. U.S. District Judge Amos Mazzant III ruled in favor of the plaintiffs who argued that the new OT rules would have caused an an increase in government costs in their states and would…
Who is FICA?
FICA stands for “Federal Insurance Contributions Act.” This is the law that funds both Social Security and Medicare through payroll taxes. Churches share this cost with their employees. Your FICA contributions earn Social Security credits. For 2016, you need to make $1,260 in wages to earn one credit. You can earn up to four credits a…
Keeping Employee Files
In order to comply with regulations and be able to find information quickly when necessary, churches should actually keep several different files for all their employee records. Typically, those files should be: The Personnel File This file should only contain information that relates to an employee’s job and job-related decisions, such as applications, performance reviews,…