2) A minister's housing allowance payments are NOT reported (added in) in Box 1 of a W-2! You can report the housing allowance total in Box 14 which is just an "informational" box.
I haven't mention the parking tax that was part of the Tax Cuts and Jobs Act because I was sure that it would be repealed. BUT unbelievably the IRS issued some guidelines for the tax on December 10, 2018.
Even more crazy is the fact that despite going all year with nary a word from the IRS ...now they are saying that the tax applies to applicable parking expenses incurred from January 1, 2018 forward, regardless of an organization’s fiscal year. In its simplest form, the parking tax is a federal income tax on charities, churches, and other nonprofits on the cost of providing employee parking. Exactly which nonprofits/churches it will affect and for how much is MUCH more
complicated!
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You can also bundle the QBO book with our "How To book" for even more details on handling contributions, minister compensation, etc. Just click on the radio button that says: Add Church Accounting: The How-to Guide and save $5 under the
