I know that not all pastors get a pay stub, but, if you do, it can be confusing…especially compared to that of a regular employee. Here’s how to double check if you’re being paid correctly.
The CARES Act expanded the tax benefit to charitable givers. I’ll go over those changes and then give my recommendation on how to best share this with your church.
Payroll is the scariest part of being a church treasurer. The primary reason is that pastors are weird…when it comes to taxes. It’s so important to get them setup correct the first time so I walk through that in QuickBooks.
I hate that I feel like I’m pushing debt here, but, if you are in a bad situation, a loan from your retirement account may be an acceptable option. Here’s is exactly how you can do that.
If your church is good with PowerPoint but not great with videos, try making your videos with PowerPoint. Especially with so much going online and on Facebook, this is worth a try.
The Families First Act can also benefit clergy that are directly affected by COVID. It looks like they can claim a tax credit to offset their self-employment taxes. A typical pastor may receive around $2,000 for a tax credit!
What do you want your church to be in the future? The same as it is today is not an option. The same as it was 30 years ago is not an option either. We’re going to have to make difficult choices on what to keep and what to let go if we want a bright future.