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PREPARING A PASTOR’S W-2 FORM Please follow instructions at the top of each screen. To begin the presentation, just press your “down arrow”

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Presentation on theme: "PREPARING A PASTOR’S W-2 FORM Please follow instructions at the top of each screen. To begin the presentation, just press your “down arrow”"— Presentation transcript:

1 PREPARING A PASTOR’S W-2 FORM Please follow instructions at the top of each screen. To begin the presentation, just press your “down arrow”

2 Preparing a W-2 for Pastors Use “Down Arrow” or “Page Down” buttons for Next Screen

3 Enter Pastor’s Social Security # Press Down Arrow 123-45-6789

4 Enter Employer’s E.I.N.# Press Down Arrow 123-45-6789 51-9876543

5 Enter Employer’s Name and Address Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999

6 Control Number is Optional Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional)

7 Enter Pastor’s Name and Address Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

8 How to Calculate Box 1 Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 ???????????

9 1.Begin with Total Comp= $40,000 (Do not include Housing Allowance) 2.Subtract “Before-Tax” Pension= ($1,200) 3.Subtract “Furn Allow”= ($2,000) 4.Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) 5.Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) 6.Add Excess Life Premium + $72 7.Total Taxable= $33,570 SAMPLE ONLY (How to calculate taxable income) Press Down Arrow

10 Enter Pastor’s Taxable Compensation Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570

11 Enter any Federal Tax Withheld per Pastor’s W-4 (Leave #2 Blank if no tax withheld) Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232

12 For Pastors, Boxes 3, 4, 5, and 6 are Blank Boxes 7-9 and 11 normally not applicable Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232

13 Complete Box 10 only if Pastor chose FSA Dependent Care (for parents with children under 13 – see health and dental coupon if applicable) Press Down Arrow 123-45-6789 51-98765431 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232

14 Box 12 – Codes C, E, W, DD (Other codes, if applicable, are located on the back of the W-2) Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232

15 1.Begin with Total Comp= $40,000 (Do not include Housing Allowance) 2.Subtract “Before-Tax” Pension= ($1,200) 3.Subtract “Furn Allow”= ($2,000) 4.Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) 5.Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) 6.Add Excess Life Premium + $72 7.TOTAL Taxable= $33,570 SAMPLE ONLY (Code “C”) Press Down Arrow CODE “C”

16 Box 12 – Code C 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72

17 1.Begin with Total Comp= $40,000 (Do not include Housing Allowance) 2.Subtract “Before-Tax” Pension= ($1,200) 3.Subtract “Furn Allow”= ($2,000) 4.Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) 5.Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) 6.Add Excess Life Premium + $72 7.Total Taxable= $33,570 SAMPLE ONLY (Code “E”) CODE “E”

18 Box 12 – Code E Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200

19 1.Begin with Total Comp= $40,000 (Do not include Housing Allowance) 2.Subtract “Before-Tax” Pension= ($1,200) 3.Subtract “Furn Allow”= ($2,000) 4.Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) 5.Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) 6.Add Excess Life Premium + $72 7.Total Taxable= $33,570 SAMPLE ONLY (CODE W) Press Down Arrow CODE “W” IMPORTANT NOTE Box 12 W is for persons in HSA only. Box 12W includes both pastor’s contribution (i.e. $2,500) plus the employer’s contribution In December, a letter is mailed to the pastor providing the amount of the Employer’s Contribution. Treasurers: Please get this letter from your pastor.

20 Box 12 – Code E Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900

21 Box 12 – Code DD (Include the Health Cost – see December letter for amount) Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908

22 Box 13 – mark if participating in CRSP (Clergy Retirement Security Program) Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x

23 Box 14 is optional – Information Box Only 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x

24 Box 15 – State and ID# where salary was earned (ID# is located on State Transmittal Form) 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x DE1-519876543-001

25 Box 16 – Normally the same as Box 1 Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x DE1-519876543-00133570

26 Box 17 – State Tax withheld if Pastor requested Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x DE1-519876543-00133570 250

27 Box 18 – Local Taxes withheld if Pastor requested Press Down Arrow 123-45-6789 51-9876543 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900 33570 4232 C72 E 1200 W4900 DD17908 x DE1-519876543-00133570 250

28 If you have questions, please contact me at emoreland@pen-del.org emoreland@pen-del.org or call 877-736-3351, extension 16.

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