February - 2016

Are SECA and Income Tax Reimbursements Taxable?

Are SECA and Income Tax Reimbursements Taxable?

In order to “sweeten the pot” in a Clergy’s contract or Terms of Call, many times the church may offer to reimburse them for their unpaid Self-Employment Tax (SECA) and/or unpaid income tax. While it may seem like you’re living life tax free; think again. That reimbursement that many times a church classifies as “non-taxable”, is actually fully taxable under the law. According to IRS Revenue Ruling 68-507, “if the church or church agency pays amounts in addition to salary t

Still Haven’t Gotten Your W-2? Here's What You Can Do About It!

Still Haven’t Gotten Your W-2? Here's What You Can Do About It!

Employers only have until the end of January to put your W-2 in the mail. Which means that you should have yours by now. However, being a business owner myself, I know that “stuff” happens. Sometimes it’s not the employers fault, and sometimes it is. Here’s what you can do to get your tax documents. 1. Contact Your Employer- Maybe you moved, or maybe it got lost in the mail. If your employer filled out your W-2, they can mail you a copy of it. Again, if you’ve moved, m

Beware of "IRS Scams!"

Beware of "IRS Scams!"

The IRS never calls or emails you when you owe them money. They always send a letter via US Mail. However, if you do get a phone call, email, or letter, please let Jacobson Clergy Tax Service review it before you pay it. Even if it's a legitamiate IRS letter, many times they are incorrect. You may owe nothing at all. For help with an IRS Letter or scam, call us at (609) 375-8295. You can also send us an email through our website jclergytax.com.

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