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    Bill

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Question

I'm a pastor/clergy. If I am not mistaken I am supposed to pay income tax and Self Employment Tax on my salary and only Self Employment Tax on my housing allowance. Presently our church's payroll company withholds my federal income tax, and I am supposed to pay quarterly SE tax installments. Is there a problem with me having the payroll company increase my federal income tax withholding to an amount that would also cover the cost of my SE Tax?

Submitted: 307 days and 6 hours ago.
Category: Tax
Value: 12 €
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Posted by Bill 307 days and 6 hours ago.

Answer

No, there would be no problem as long as the additional amount withheld was sufficient to pay the additional taxes. If you don't have enough withheld then you could incur an underpayment penalty depending on the amount of tax that you will owe on your tax return.

http://www.irs.gov/taxtopics/tc306.html

http://www.irs.gov/faqs/faq/0,,id=199807,00.html

http://www.irs.gov/publications/p505/ch04.html

307 days and 5 hours ago.

Reply

Can the SE Tax amount be withheld as SS and Medicare or does it need to be withheld as Federal Income tax?

Accepted Answer

It would be withheld as income tax from your W-2 but the excess withholding amount would be a credit on your income tax return which would offset the SE taxes you would owe with the Schedule SE that you attach to your personal tax return.

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Expert: Bill
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Answered: 5/18/2009

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