When it comes to handling pastoral compensation, the details can make all the difference.
From navigating the housing allowance and its tax effects to understanding the unique issues involved in planning for retirement, a minister’s classification seems to bring confusion in the world of compensation planning. Any failure to follow specific rules can change the taxation of various components in a compensation package—likewise, the use of various components may have unintended tax consequences.
CPA and Church Law & Tax senior editorial advisor Elaine Sommerville, provides church leaders with a valuable review of the details most essential to building a solid compensation package for ministerial team members.
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