The financial realities of home improvement projects
Ministers have a dual tax status. For federal reporting purposes they are considered to be W-2 employees, but for Social Security/Medicare taxes they are considered to be self-employed. The IRS instructs employers to use Form W-2 to report an employee’s taxable income from a church or church related employer, not Form 1099-MISC.
MMBB is on The Move! MMBB has chosen Fidelity as the new provider of recordkeeping services for our retirement benefit plans. This change will become effective beginning November 1, 2022. If you are an MMBB member, see a postcard about the transition and watch your mailbox for more details in the coming months.
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