Why You Need a Will
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.
A Message for MMBB Members
The MMBB Retirement Plans recordkeeping transition to Fidelity is complete. Currently only MMBB members with a balance in their retirement account are eligible to register for the MMBB Member Portal. If you don’t have a balance in your MMBB retirement account no action is required at this time.
Eligible members who have not yet registered will receive an invitation including a unique URL to set up their Member Portal credentials. Thank you.
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