To help church staff and church lay leaders understand and comply with tax laws, the Compensation Planning Ministry of the Baptist General Association of Virginia will host an informative seminar in Richmond, VA, on February 20, 2020 from 9:30 a.m. – 12:00 p.m. For those unable to attend in person, this seminar will also be recorded and available online by registering via our website (same cost as attending in person).
The Church and Clergy Tax Seminar is designed for church staff and lay leaders who need assistance with tax issues. Attendees will get help with proper structuring of church staff compensation so as to meet the requirements of the Internal Revenue Code, proper handling of minister’s taxes, and church federal reporting requirements.
The seminar will cover the tax implications for churches and clergy related to:
- The personal income of ministers—salary, housing allowance, S.S. offset.
- Accountable Reimbursement Plans
- Health Insurance
- Group Term Life Insurance
- Disability Insurance
- Other benefits such as dental, vision, LTC, etc. as Nontaxed or Pre-tax benefits
- Retirement Plans
- Complying with federal payroll tax reporting obligations
- Form W-2
- Form 941 Employer’s Quarterly Federal Tax Return
- Form 944 Employer’s Annual Federal Tax Return
- 1099 MISC
- Charitable Contribution Reporting
- The Church’s Tax-Exempt Status as a 501(c)(3) Organization
- VA Retail Sales and Use Tax
Both online and print resources will be provided to attendees.