As part of your year-end payroll processing tasks, you might have a question or two about reporting minister's earnings and allowances on Form W-2. Maybe, you just need a refresher. Here are the general topics that we receive questions about. Salary – Salary paid to minister is reported in Box 1. Federal Withholding – May […]
Our clients keep us on our toes! Because we encourage them to call us when they have a problem and we generally don’t charge for phone calls, we get a steady stream of questions posed to us by our clients and friends. Most of the questions are quite routine, dealing with things common to all […]
The recently signed $700 billion economic bailout bill (H.R. 1424, The Financial Rescue Package), includes a two-year extension of the IRA Rollover provision. The provision will be made retroactive to January 1, 2008, and will apply to gifts made from that date through December 31, 2009. The special legislation allows you to make charitable gifts […]
Typically an employee of the church would not perform contract services. Therefore all income should be reported on the employee's W2 as opposed to a 1099. However, there is an exception if the employee is in a "transition" year. This occurs when an employee retires from the church and subsequently performs contract services in the […]
It is getting to be that time of year to prepare for your year-end payroll processing. Have you ever been a lucky recipient of a letter from the Social Security Administration stating that you have reported incorrect names or social security numbers on your W-2's? Do you have a process in place to ensure you don't receive […]
Do you know where your original IRS application for exempt status is located? Do you need a copy for your records? Do not fear the IRS can help. You can file a Form 4506A Request for Public Inspection or Copy of Exempt or Political Organization IRS Form. You can find this form at the IRS's website […]