The Conference Office is extending the Closing date for 2012 Mission Share Remittances to Friday, January 11, 2013. The original date of January 9th has been modified to Friday, January 11, 2013. 2012 Mission Shares must be in the office of the Treasurer by 4:00 pm to be credited as 2012 payments.
Please note that churches may check the balance of their Mission Shares for 2012 by going to the conference website under Business and Admin and clicking on Mission Shares, then clicking on Mission Shares-Current for All Churches (or Click Here
), and then clicking on their church name. A current statement may also be printed from this page. This page will be updated daily until the Final Closing on January 11, 2013.
New Social Security Withholding Rates for 2013
For 2013, the employee tax rate for social security is 6.20%. The Middle Class Tax Relief and Job Creation Act of 2012 extended the reduction through the end of 2012. Under current law, this temporary reduction expires at the end of December, 2012.
The employer tax rate for social security remains unchanged at 6.2%. The 2013 social security wage base limit has been raised to $113,700. In 2013, the Medicare Tax rate is 1.45% each for employers and employees, unchanged from 2012. There is no wage base limit for Medicare Tax.
Self-employed individuals (clergy) are responsible for paying both the employee and the employer portions of the Social Security Tax.
IRS Announces 2013 Standard Mileage Rates
The IRS recently announced the 2013 standard mileage rate for reimbursement of business-related travel. The rate, effective January 1, 2013, will be 56.5 cents per mile, up one penny from the rate in effect during 2012.
For your personal records you may want to make a note of additional information from the IRS regarding medical and charitable mileage rates. The medical and moving rate has been increased by 1 cent per mile, while the rate for serving a charitable organization stays the same. So those reimbursement rates for 2013 are:
a) 24 cents per mile driven for medical or moving purposes;
b) 14 cents per mile driven in service to a charitable organization.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for service to a charitable organization is set by law.