Church and Clergy Tax Developments in 1998: Tax Changes of Interest to Ministers

1. Tax rate adjustments. For 1998, the income tax rates for married couples filing jointly are 15% for the first $42,350 of taxable income, 28% for taxable income from $42,350 to $102,300, 31% for taxable income from $102,300 to $155,950, 36% on taxable income from $155,950 to $278,450, and 39.6% on taxable income in excess of $278,450. For 1998, the income tax rates for single individuals are 15% for the first $24,650 of taxable income, 28% for taxable income from $25,350 to $61,400, 31% for taxable income from $61,400 to $128,100, 36% on taxable income between $128,100 and $278,450, and 39.6% on taxable income in excess of $278,450. The new income tax rate structure is summarized in the following two tables.

TABLE 1 - 1998 INCOME TAX RATES

MARRIED PERSONS FILING JOINTLY

Log In For Full Access

Interested in becoming a member? Learn more.

View All
from our store
2020 Church & Clergy Tax Guide

2020 Church & Clergy Tax Guide

Find comprehensive help understanding United States tax laws as they relate to pastors and churches.
Church Compensation

Church Compensation

Learn the many pieces of employee compensation.
20 Finance Questions Churches Ask

20 Finance Questions Churches Ask

Richard Hammar answers relevant tax and finance questions for church leaders.
Protecting Your Tax-Exempt Status

Protecting Your Tax-Exempt Status

Understand the requirements of your tax-exempt status.

ChurchSalary

ChurchSalary

Let ChurchSalary do the work. Get personalized compensation reports for staff and pastors.