fbpx

SBOM Holds Tax Preparation Conferences to Help Ministers

Facebook
Twitter
Email
Print

The greatest area of difficulty in a minister’s tax filing is his or her dual status, according to Lee Wright, state missionary in the office of LeaderCare and church health at the Alabama Baptist State Board of Missions (SBOM). A minister is an employee for federal income tax purposes and self-employed for Social Security taxes, Wright explained.

During the five conferences on tax preparation for ministers Wright conducted in February, he said ordained ministers should:

• be given a W-2 form from the church rather than a 1099,

• report any employee unreimbursed expenses the minister has on Schedule A,

• note additional miscellaneous income such as honoraria on Schedule C

• and determine Social Security and Medicare taxes on Form SE. (continued…)

Read the full story from The Alabama Baptist Newspaper – http://www.thealabamabaptist.org/sbom-holds-tax-preparation-conferences-to-help-ministers/

More to Explore

Mastering Through Application

One portion of Webster’s definition of “learn” is “to master”, or “mastery of.” To have mastery is to have full command of

Receive New Post Notifications

Share this post with your friends

Share on facebook
Share on twitter
Share on linkedin
Share on print
Share on email

Sign Up For Emails From Us!

Subscribe to receive ministry notifications, updates, and news.