We want to give our pastor an allowance account that he can use for hospitality, benevolence, and other ministry expenses. We’ve been told this fund might be taxable to our pastor. Is that true?
While the Payroll Protection Program in the CARES act has received a lot of attention (and funding), there is another benefit available to churches and small businesses called the Employee Retention Credit.
The Payroll Protection Program is one of the benefits of the Coronavirus Aid, Relief, and Economic Security Acts (CARES Act). This $349 billion economic assistance program provides small business loans to employers (including churches) to help cover payroll and other operating expenses.