Church Financial Benefits Department Church Financial Benefits Department Do you need more help regarding retirement planning, insurance protection, compensation planning, or tax issues unique to churches and ministers? Don Spencer is available to lead conferences for associations and for the appropriate leadership in churches. For more information, contact him at Don.Spencer@kybaptist.org or by phone at (866) 489-3521 toll free in Kentucky. Below are easy-to-use links to fact sheets, forms and other sites releted to church and minister financial issues? You'll need Adobe Acrobat Reader, which you can get free. Fact Sheets What Does the Bible Say About Financial Support for Ministers? Basic Tax Concepts for Ministers Who is a “Minister” for Tax Purposes? Is the Minister an Employee or Self-Employed? Special Tax Provisions Apply to Ministers What Changes When One is Ordained as a Minister? How Churches Structure a Minister’s Support The Lump Sum Pay Package An Employer Structured Financial Support Plan How to Structure a Minister's Financial Support in Four Easy Steps Worksheet for Minister’s Financial Support Plan Minister’s Housing Housing Estimate Form Housing Notification Form Retirement for SBC Ministers and Church Employees Social Security for Ministers & Church Employees Insurance for SBC Ministers and Church Employees Medical Reimbursement Plans Ministry Related Expenses Accountable Reimbursement Policy Sample Expense Form – Ministry Related Travel and Other Expenses Checklist for Evaluating a Financial Support Plan Sample Financial Support Plans for Ministers IRS Reporting Requirements for Churches How to Report Compensation of Church Employees How to Report Compensation Paid to Self-Employed Workers How to Complete a W-2 Form for Ministers & Church Employees Issues Regarding Charitable Contributions Internal Controls for Churches Additional Resources “Social Security for Members of the Clergy and Religious Workers” (IRS Publication # 517) This free publication from the IRS is updated annually. “Minister’s Tax Guide” A Step by Step Commentary, updated annually for Southern Baptist Ministers. Available free on line and in print. Request from GuideStone Financial Resources, 2401 Cedar Springs Road, Dallas, TX 75201-1498 “Planning Financial Support of Ministers and Church Employees (pdf)” A free workbook published by GuideStone Financial Resources, 2401 Cedar Springs Road, Dallas, TX 75201-1498 SBC Compensation Study A joint project of SBC state conventions in cooperation with the GuideStone Financial Resources and LifeWay Christian Resources of the SBC. This on-line study includes compensation data from a large number of SBC churches allowing churches to compare their staff compensation to other SBC churches of similar size. 2008 Study 2006 Study “Church and Clergy Tax Guide” One of the most comprehensive sources for up-to-date information on tax issues for ministers and church. Written and updated annually by Richard R. Hammar, Attorney and CPA. Published by Christianity Today. “Church & Non-Profit Organization Tax and Financial Guide”, and “Minister’s Tax & Financial Guide” Both are written and updated annually by Daniel D. Busby, CPA, published by Zondervon Publishing House. Available for purchase through your Christian book retailer or at www.ZondervanChurchSource.com. “Church Law and Tax Report” A bimonthly publication reviewing legal and tax developments affecting ministers and churches. Published by Christianity Today. “Worth’s Income Tax Guide for Ministers” Written/published annually by B. J. Worth Tax Service, 3201 E. Center St., Warsaw, IN 46582 “Pastor, Church and Law” By Richard R. Hammar, Attorney and CPA An encyclopedia of legal information relative to churches and ministers. Published by Christianity Today. Available for purchase on line at www.churchlawtoday.com - select “Bookstore” link. (Note: The fourth edition of this book is being released in 2007 and 2008 as a 4 volume work.) “Tax Angles for Special Tax Payers” Published by Commerce Clearing House, Inc. This guide, updated annually, is a supplement to a multi-volume set of comprehensive tax guides used by many tax preparers. WEB SITES GuideStone Financial Resources http://www.guidestone.org Internal Revenue Service http://www.irs.gov/charities/churches Church Law Today http://www.churchlawtoday.com (resources formerly available through Christian Ministry Resources) Financial Resources for Churches & Pastors http://www.guidestone.org/ministrytools/financialresources.aspx Treasurer’s Guide http://www.vbmb.org/uploads/toolbox.pdf#search='Church%20Treasurer%20Role%20Stewardship' Stewardship & Financial Planning http://www.bbcfoundation.org/Money_Sense/ Crown Financial Ministries http://www.crown.org