by Taylor Johnson | Mar 1, 2021 | Basic Retirement Tips, Participant Resources
It’s that time of year again. Tax season is upon us and we want to make sure you have the resources you need to successfully file your taxes.* Important tax dates that you should take note of February 12th marks the beginning of tax season The first business day in...
by Taylor Johnson | Sep 3, 2020 | Retirement
What is Housing Allowance for Ministers?A tax benefit for ordained, licensed, or commissioned ministers.A portion of income that is excluded from gross income, and thus is not subject to federal income tax.Gives them the ability to take a portion of money out of their...
by Taylor Johnson | Sep 2, 2020 | Retirement
All those who are properly licensed, commissioned, or ordained by an ecclesiastical body can take a Minister’s Housing Allowance, which gives the right to reduce their ministry-based income by an amount equal to the expenses associated with their housing...
by Taylor Johnson | Aug 20, 2020 | Plan Administration, Plan Participation
What is Housing AllowanceWhen an ordained, licensed, or commissioned minister receives a portion of their compensation as housing allowance, that portion is excluded from gross income and therefore not subject to federal income tax. This can represent substantial tax...
