Tax Time Reminders

Calculator with TAXES text  with calculation sheet backgroundTax season is once again upon us! Following are several reminders for our missionaries concerning tax issues that you may face. We trust that this information will be useful to you both in giving you a better understanding of your reports and helping you to be aware of items that may affect your personal taxes. Please be sure that you are following published guidelines when listing expenses on your financial reports. Thank you!

The Affordable Care Act and Your Taxes

This is the first year that the Affordable Care Act will affect your taxes in regards to your Health Insurance coverage. If you are enrolled in the Health Insurance Marketplace, you should expect to receive a Form 1095-A from the Marketplace, which you will need to submit to your tax preparer. If you were not enrolled in the Marketplace, you may still need to discuss your Health Insurance plan with your preparer, as it is our understanding this will affect your tax return this year. Questions about this should be directed to your tax preparer.

Estimated Tax Payments

Missionaries are considered to be self-employed, and are therefore subject to self-employment taxes. Submitting quarterly estimated tax payments throughout the year will help to prevent having a large tax payment due each April. Estimated tax payments can be submitted on your own, or, if you are interested, you may contact our office for information on how we can submit them for you.

1099 Forms

If churches issued funds payable to you in excess of $600 during the year 2014, they may issue you a 1099 form. If those funds were either mailed to the office, or included on Line 2 of your MFR as extra income, they are already included in the total of your W-2. Our office can assist you in verifying if the funds were included on your W-2. Your tax preparer can assist you on your return in recording this so that you are not taxed twice on the same income.

Foreign Tax Exclusion

In order to claim the foreign tax exclusion, you must be out of the US for 330 days over a 12 month period of time; however, these days do not have to be in the same calendar year. In order to gain the full benefit of the foreign tax exclusion, your tax preparer may be able to revise your returns based on the actual time you have spent overseas. Because of this, it is vital to provide your tax preparer with all of your travel dates to and from the US. You may also wish to discuss with your tax preparer what dates would be the best travel dates when planning to leave for the field or return on furlough, as this could affect how much you are allowed to claim under the foreign tax exclusion.

Ministry Bank Accounts

If your ministry has been chartered and established as a non-profit organization, we recommend having your ministry get a bank account in its name. Funds for purchases such as land may be able to be sent directly to your ministry, thus eliminating your personal tax liability. Please note that there are limitations to this option. Of course, regular support could never be sent this way. Please contact our office for more information.

Tax Paperwork for those with Foreign Bank Accounts

US Treasury Dept. regulations require that if you have any foreign bank accounts, and if the sum total of all of your foreign accounts has ever been $10,000 at any given time during the past year, you must complete the IRS Form TD-F90-22.1, and give it to your tax preparer. This form, and further information about it, is available on the IRS website at www.irs.gov. It is our understanding that there have been several changes to these requirements in recent years, and you may also need to complete the new Form 8938. Please refer to the IRS website and your tax preparer if you have any questions.

The True Cost of Doing Your Own Taxes

Studies have shown that the average person who uses a tax professional, instead of filing their own taxes, receives a much greater tax return. When comparing the returns of those who self file vs. those who use a tax professional, it is estimated that a self-filer loses between $297 and $791 in missed refunds. The savings far exceed the amount spent to hire a professional. (Statistics taken from daveramsey.com.) We strongly recommend that all missionaries use a certified tax preparer who is familiar with special tax situations that affect missionaries. Contact the Office for a listing of tax preparers used by other missionaries.

From the Memo Board: February 2015

Upcoming Dates

March 1
January financial reports will be due. We will be sending out the 2015 Excel spreadsheet soon. however, you are welcome to submit reports on the 2014 spreadsheet if you wish to turn yours in sooner.

March 2
Adjusted pay date for those who usually receive funds on the 29th.

March 30
Adjusted pay date for those who usually receive funds on the 29th.

June 15-18
Family Fellowship Week in Greensboro, NC

 

New Equipment Information

Our Office maintains a database of depreciable equipment purchased by missionaries and included as an expense on their monthly financial reports. Our CPA has informed us that we no longer need to track purchases that are less than $500. Starting with January 2015 financial reports, please use Line 15 of the report to record depreciable equipment of $500 or more. Less expensive equipment can continue to be listed on Line 17 of the report. Thank you for your help with this!

 

Life Insurance

Did you know that most life insurance companies can automatically deny applicants who intend to move outside of the United States? However, most cannot drop you for foreign travel if you have had a policy in place for at least 2 years. Therefore, we encourage all missionaries to obtain a life insurance policy as soon as possible while you are on deputation, so that you will have one in place before leaving for the field.

From Our President: February 2015

Danny Whetstone“For our gospel came not unto you in word only, but also in power, and in the Holy Ghost, and in much assurance; as ye know what manner of men we were among you for your sake. And ye became followers of us, and of the Lord, having received the word in much affliction, with joy of the Holy Ghost:” 1 Thessalonians 1:5-6

The gospel came to Thessalonica when Paul on his second missionary journey was led of the Lord to take the gospel to regions beyond Troas.  When the gospel came it was not “in word only.” It came in word, power, the Holy Ghost, and much assurance. We have been called to deliver the gospel of our Lord to every creature. However, we do a disservice to those that He has sent us to if we deliver it in “word only.”  We need the power of God. This power is available to us by the ministry of the Holy Spirit as promised in Acts 1:8, “But ye shall receive power, after that the Holy Ghost is come upon you:and ye shall be witnesses unto me both in Jerusalem, and in all Judea, and in Samaria, and unto the uttermost part of the earth.” There was no doubt in Paul’s mind that he was delivering the absolute truth. These early missionaries were full of assurance concerning the eternal truth of the death, burial and resurrection of Jesus Christ.

We must exercise great caution that our ministries are not reduced to only words that are not taken forward by the ministry of the Holy Spirit through us. Our labor for the Lord deserves a professional presentation, but as Paul did not depend on his amazing training and education, neither can we lean entirely on ours. Electronic libraries make it easier than ever before for us to put together a “sermon.” Sermons can become messages when breathed on by the power of God.

Paul said, “And ye became followers of us….” It is not likely that we will have much success in bringing others to Christ if they cannot see Him in us. No man is worthy of worship, but long before we deliver the message verbally it is more than likely that they will have opportunities to see Him in our lives, “as ye know what manner of men we were among you….”  Now that he had their attention he could point them toward the Lord, and they became followers of Christ. It is foolish to believe that we can convince others to follow Christ if we have not committed ourselves to do the same. We have been sent out by the Lord to do a work that can be blessed by Him. If we fail to present our faith in a Christ honoring way how difficult will it be for the servants of Christ that follow us?

It is not unusual for us to face hardships, discouragement and temptations. Let’s be vigilant to maintain a testimony before the world that will not hinder the work that we have been sent to do.

In His Service,
Danny A. Whetstone

Featured Article: True Diagnosis

“And all wept, and bewailed her: but he said, Weep not; she is not dead, but sleepeth. And they laughed him to scorn, knowing that she was dead.” (Luke 8:52-53)

As Jesus walked into the house, the mourning party exploded in ridicule. What He had told them concerning the little girl inside sounded preposterous, and they responded in a chorus of irreverent laughter.

However, what an amusing array of expressions they must have displayed a few minutes later as the Lord and His trio of disciples said goodbye to the happy family.

Once again, the Lord’s assessment had been true, though it had made no sense.

Throughout His ministry, the Lord was continually shaking up people’s thoughts about reality.

For centuries the Jews had been without a prophetic word from Heaven, and their faith had all but died. Oh, they had adopted a lifestyle of sacred traditions and rituals inherited from Moses and others, but in every practical aspect of life, the majority lived on a completely horizontal level.

It is not that they openly denied the truths of the Old Testament. They still heard them read at the synagogues and claimed them as their treasure. However, much of that knowledge they stored on the dusty, old shelves of theory.

So deeply was this error entrenched that when the Lord came and actually lived according to those principles, they questioned His sanity. When He gave the true diagnosis, which inevitably was at odds with the interpretations of the day, the atmosphere would turn nasty. A few of the bolder and more humorous ones would start to laugh, soon to be joined by their admirers. Before long the whole bunch would be making fun of Him.

Tragically, few of them ever seemed to realize or admit that they were actually laughing at the facts according to God!

We can learn from their mistakes.

As we read the Bible, the voice of Deity makes statements that are squarely against popular attitudes and philosophies. Faced with these opposing ideas, we have to choose.

Either we listen to the tune of the culture, and move to their side, or we lean our hearts toward the words of the Lord. If we are of those who have ears to hear, His authoritative voice will drown out the cheap cackle of the scorners and our souls will swell in harmony with the majestic symphony of Truth.

Though rarely a large crowd at any given time, the ensemble of true worshippers has a long history, and down through the ages, thousands have joined its ranks.

Earlier in this Gospel, when Luke recorded his investigation into the arrival of Messiah, he revealed evidence that not everyone had been swayed by the mood of unbelief. Even in that dark hour of ignorance, there were still a few who believed the prophets of the Lord, no matter how hopeless the situation looked. Simeon and Anna were two of these, an elderly duet that knew God was always right.

And so each of us faces the choice of every individual of every age: Who will I believe?

Dear Father, You are always right. Even when what You say doesn’t seem to make sense on this sin-cursed earth, Your diagnosis is correct. Help me listen and believe.

Prayers and Dates: January 2015

Click the link above to download a PDF of prayer requests and praises as well as the birthdays and anniversaries for January. Note: You will need to login to SecureCloud in order to view this document.  Once you have logged in, click on Files Shared, then Headquarter Happenings, then scroll to the month you would like to view. This step protects people with WWNTBM in restricted access fields.

From the Memo Board: January 2015

January Income

During a typical month, we close out the books on the 25th, and any checks received after that date are posted to the following month. Due to receipting requirements, we cannot do this in the month of December. As a result, please be aware that the December support may be higher than normal, while your January support may be lower than normal. Please be sure to plan ahead for this.

 

Housing Allowances for 2015

Housing allowances previously in place have automatically rolled over to the new year. Missionaries who are ordained are eligible to have a housing allowance in place, which can provide certain tax benefits. If you did not have a housing allowance in 2014 and would like to have one for 2015, or if you have questions regarding this, please contact our office.

 

New Excel Template

A new Excel template for the year 2015 will be available during the first week of February. This will give us time to review the need for any possible updates. January financial reports will be due on March 1. Should you wish to complete your report before the new template is available, you are welcome to submit it on the 2014 template.

 

New Mileage Rate

Beginning January 1st, the IRS mileage rate has increased to $0.575 per mile for business/ministry miles. This change will be reflected on the new Excel template for 2015.

Elena Germano

New Baby!

Elena Lisa Germano was born to Timothy and Stephanie Germano on November 29. She weighed 7 lb. 13 oz. and was 20.5″ long. The family is doing well and Elena has already been traveling on deputation! The Germanos are on deputation to go to the Dominican Republic.

 

Nathan Fry & HannahNew Engagement!

Nathan Fry and Hannah Joyal were engaged on Christmas Eve! Nathan will soon be returning to Pohnpei, where he will continue to assist Ruth Ann Arthurs with the radio station until the Eibens arrive and are trained. Pray for this couple as they make plans for their future together!

 

Michael DeatrickNew Graduate!

Michael Deatrick completed his missions degree in December from Ambassador Baptist College. Now that his schooling is completed, he and his wife Nora have moved to Missouri, where they will base the remainder of their deputation. They are planning to go to the Solomon Islands.

From Our President: January 2015

Psalm 104:33-34, “I will sing unto the LORD as long as I live: I will sing praise to my God while I have my being. My meditation of him shall be sweet: I will be glad in the LORD.”

Are you terribly busy right now? Could you possibly find a quiet place? Is it possible to go to a room with no electronic devices to be seen or heard? If so, I would like to challenge you to go there and read Psalm 104. Do not speed read. Perhaps even read it aloud to yourself. Then, ask yourself if there is any wonder why the Psalmist would then write verses thirty-three and thirty-four.

Have you ever gotten so caught up with the Lord that you just broke out in song to Him? Sometimes the songwriters are able to capture our thoughts in a few words that we can sing to the Lord. The overflow of the heart cannot be easily explained, and too often its importance is overlooked. Maybe no one ever compliments your ability to sing, but I have every reason to believe that it is a blessing to our God when it flows from within.

Why does it not happen more often? It could be that the answer is in verse thirty-four. “My meditation of Him shall be sweet.” We are engaged with so many things. Even when we pillow our heads to rest, it is difficult to arrest the spinning mind long enough to get a peaceful night of sleep. Be still! Be still long enough for Psalm 104 to really register in your heart and mind. Believe it or not everything can do without us for a few minutes. Very soon we can get back to the race of life. However, for a moment let us think on Him. Oh! Isn’t it sweet? Just for a little while we are not asking Him for anything. We are simply immersing ourselves in His divine presence. Psalm 34:8, “O taste and see that the Lord is good: blessed is the man that trusteth in him.”

We cannot by thought or deed bring the whole world to a standstill, but we do have the power to call a timeout! Is it possible that we could emerge from this sweet moment of meditation saying, “I will be glad in the Lord.” To be glad is to be joyful. It means to brighten up. We can face today, and we can face it joyfully. However, we must prepare for it by spending time with our Lord. “My meditation of him shall be sweet.”

As we face the challenges of the New Year, let us commit ourselves to time with the Lord. It will be the oil that lubricates everything else in our schedule. It is my sincere prayer that the Lord will use each of us to glorify His name.

In His Service,
Danny A. Whetstone

Featured Article: Shine Forever!

“And they that be wise shall shine as the brightness of the firmament; and they that turn many to righteousness as the stars for ever and ever.” (Daniel 12:3)

When he first heard these words Daniel was an old man, well over 70. He had served his Lord faithfully for nearly sixty years, which in itself was a rare testimony.

Add to this the humiliating details of his circumstances and some of the reasons he is a hero of the faith surface quickly. Yanked out of his home and country as a teenager, made a eunuch and forced to serve pagan kings, he still gave his life to God’s service. Somehow he embraced this graciously as the will of Jehovah for him.

Perhaps as a reward for his special faith, the elderly prophet received some of the most important end time prophecies in all of the Bible. The last one, spanning more than two chapters, ends with this interesting promise: God’s wise children will shine as the stars forever.

By itself that would be a very odd statement. How in the world are faithful believers going to shine as stars? Fortunately, the Holy Spirit gives a number of complementary passages that can shed a little light on the meaning. One of these is in the grand resurrection chapter, 1 Corinthians 15. As the apostle is explaining the glories of resurrected bodies, he makes a interesting observation, that at first glance hardly seems to fit the context.

Celestial bodies, he says, are very different one from another. Their individual glory varies immensely, a fact that modern equipment has only helped to confirm. Apparently, no two planets, stars, or galaxies are the same! This, of course, testifies to the infinite wisdom and power of our Creator.

But it does more than that. It also illustrates something about our heavenly future. Just as the expanse above us displays a vast army with different purposes and levels of shining glory, so will the future, eternal universe, teeming with redeemed souls. The Bible clearly teaches that the Lord will determine our eternal ability to shine according to our faith and works in this, our brief stay on earth.

We will all shine! Believers, no matter to what degree they influenced others for righteousness, will glow as stars . . . eternally!

I do not know exactly how this will happen, but God does. He will define it perfectly and make it happen.

But it is also significant that not all will shine with the same radiance. Our proper and never ending reward will be linked to our faithfulness to God right here, right now.

Most of us are familiar with “The just shall live by faith”, and each of us has been given a measure of faith. But do we live by it? Or do we give in to doubts that distract us, waste away our time, and neutralize our spiritual usefulness?

How much of my daily life is really lived by faith in the God I cannot see? Daniel obviously did a pretty good job with his, and he is an inspiration to me.

Dear Father, You have given me so much. You have blessed me in every direction I look. Please help me shine for Your glory here, so I can also be a bright testimony to Your grace for all eternity. Amen.

Ministry Milestones 2014

We would like to recognize several ministry milestones that were reached during the year 2014. We are grateful for these individuals who continue to serve faithfully.

Fred & Beth Daniel
Fred Daniel, Jr., has served on the Executive Board for 25 years.  He and his wife, Beth, are from Greensboro, NC where he pastors Brookhaven Baptist Church.
Michael & Boone West
Michael West has served on the Executive Board for 15 years.  He and his wife, Boone, are from Ocala, FL where he pastors Memorial Baptist Church.
Danny & Gail Alford
Danny & Gail Alford have been missionaries with World Wide for 15 years.  They previously served in Holland and England, and they are now in Aruba.
The Ashbury Family
Bill & Melody Ashbury have been missionaries with World Wide for 25 years.  They serve in Malawi with their two children, William and Hannah.
The Boylston Family
John & Christa Boylston have been missionaries with World Wide for 5 years.  They serve on the island of Pohnpei with their five children, Kyle, Kody, Kaleb, Kierra, and Khloe.
Allinson & Floretta DaCosta
Allinson & Floretta DaCosta have been missionaries with World Wide for 30 years.  They serve in their home country of Nevis, and are also involved with an orphanage ministry in Zimbabwe.
The David Family
Charles & Abigail David have been missionaries with World Wide for 5 years.  They serve in their home country of India with their two children, Beryl and Bertrum.
The Mike Family
Mike & Kristen Gali have been missionaries with World Wide for 10 years.  They serve in Chile with their three children, Matthew, Samuel, and Leah.
The Hendrick Family
Adrian & Emma Hendricks have been missionaries with World Wide for 5 years.  They serve in their home country of India with their three children, Timothy, Titus, and Trophimus.

 

 

The Howell Family
Lewis & Kim Howell have been missionaries with World Wide for 10 years.  They serve in New Zealand with their two children, Deborah and Elizabeth.
Norman & Joy Johnston
Norman & Joy Johnston have been missionaries with World Wide for 5 years.  They serve in church planting in the Charlotte, NC area, as well as on staff at Ambassador Baptist College.
Lisa Kendrick
Lisa Kendrick has been a missionary with World Wide for 10 years.  She serves in Germany.
The Milgrim Family
George & Patty Milgrim have been missionaries with World Wide for 15 years.  They previously served in Pohnpei and Guam, and they are now in Hawaii with their daughter, Priscilla.
The Newton Family
Francis & Leena Newton have been missionaries with World Wide for 5 years.  They serve in their home country of India with their three children, Japheth, Jonathan, and Jade.
Elsa Ramirez
Elsa Ramirez has been a missionary with World Wide for 25 years.  She previously served in Spain and France, and she is now in Mexico.
Mike & Sue Smith
Mike & Sue Smith have been missionaries with World Wide for 5 years.  They serve as church planting coordinators in the Mountain West, and they are currently based in Arizona.
The Zimmer Family
Paul & Sherry Zimmer have been missionaries with World Wide for 15 years.  They serve on the island of Yap with their six children, Angelina, Paul, Hannah, Jacob, Sarah, and Clara.

Prayer & Dates: December 2014

Click the link above to download a PDF of prayer requests and praises as well as the birthdays and anniversaries for December. Note: You will need to login to SecureCloud in order to view this document. Once you have logged in, click on Files Shared, then Headquarter Happenings, then scroll to the month you would like to view. This step protects people with WWNTBM in restricted access fields.