#irs-regulations

#irs-regulations

Churches have the moral obligation to engage with social justice and political issues, as historical participation has shaped their existence. However, endorsing candidates risks divisiveness and detracts from spiritual missions.

"Though telework has become widespread for traditional W-2 employees, the home office deduction specifically applies to fully self-employed people or independent contractors who use a designated area for business."

Starting in 2024, third-party payment platforms like Venmo and CashApp will be required to report transactions exceeding $5,000 to the IRS, dropping to $600 in 2026. This change ensures that income from these platforms is taxed, as technically it should have been reported all along.