How your church may be affected.
Various tax news outlets have released inflation-adjusted estimates to key tax figures for 2018. This is useful information for planning as we approach 2018.
Among the estimates published by the Thomson Reuters Checkpoint tax service are:
- The minimum charitable contribution and maximum cost of a token gift offered in return are estimated to increase to $54.50 and $10.90 respectively (up from $53.50 and $10.70).
- The payment or reimbursement limit for qualified small employer health reimbursement arrangements (QSEHRAs) is estimated to increase to $5,050 (up from $4,950 for 2017) for employee-only arrangements and to $10,250 (up from $10,000) for arrangements that provide for payments or reimbursements for family members.
This post was adapted from a September 15 CapinCrouse email alert. Used with permission.