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FITA (Federal Income Tax) Bonus
What is this Bonus?
The International Support Goal Worksheet does not include Federal Income Tax for the reason that most International Missionaries qualify for Foreign Earned Income Exclusion (Form 2555). In most cases, US citizens living in foreign lands qualify for this exclusion once they have lived outside of the US for 330 days (out of one year).
This bonus exists so that first year missionaries and those who may not qualify can increase their income to meet potential tax obligations.
Who is eligible?
First year missionaries and those who don't qualify for the Foreign Earned Income Exclusion. Individual missionaries need to consult qualified tax advisors to understand this.
How do I request this bonus?
While the missionary is completing their initial Support Goal Worksheet, they need to submit a written request for the FITA bonus.
Settling-in Bonus
Who is eligible?
A settling-in bonus is intended for missionaries when they report to their new assignment. It allows them to pay for extra personal expenses that would normally be considered "personal" or salary items. Things like:
- deposits on housing
- furniture and household goods
- rent-finder fees
- deposits and prepayments of utilities
How do I request this bonus?
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- Complete the International Bonus for Moving and Vehicle.
- Itemize estimates of costs of various components of expenses (e.g., kitchen utensils and cabinets, bedroom furniture, linens for children, etc.)
- Indicate on the form your estimate of related taxes, or ask the International Liaisons to assist you - for assistance, the request needs to be written in an email.
- Submit completed form to international@gcmweb.org
- This bonus like each bonus depends on funds being available in the missionary MTD account.
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What happens if my expenses on the field are more than the bonus amount I received?
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The missionary may seek additional funds for Settling-in bonus through a written request and explanation to International@gcmweb.org. As always, approval depends on funds being available in the MTD account, as well as judgment of MR and the local supervisor.
What about taxes?
Settling-Bonuses are the same as extra income. Therefore, they are fully taxable. MR can assist in estimating the taxes due and add them to the bonus, if the missionary requests it.
Do I need receipts for my purchases with this bonus?
In most cases, receipts are not required because this is not a reimbursement.
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Vehicle Bonus
Who is eligible?
Missionaries whose ministries require the purchase of a vehicle.
How do I request this bonus?
What about taxes?
FITA (Federal Income Tax) Bonus
Who is eligible?
Submit the International Bonus for Moving and Vehicle, using instruction for Settling In Bonus
What expenses can be covered with this bonus?
The purchase of the vehicle and taxes related to purchase
For costs related to maintenance, taxes, insurance that cover the on-going cost of the vehicle, the needs to include the monthly expenses in their Support Goal.
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What about taxes?
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The purchase of a vehicle is considered extra income and fully taxable.
Hardship Bonus
Who is eligible?
How do I request this bonus?
What about taxes?
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Counseling Bonus
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Moving Bonus
Who is eligible?
How do I request this bonus?
What about taxes?
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Transition Bonus
Who is eligible?
How do I request this bonus?
What about taxes?
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Re-entry Bonus
Who is eligible?
How do I request
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this bonus?
What about taxes?
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Exceptions can be made at the discretion of the Missionary Resources Director. Contact the International Missionary Liaison for details on how to request an exception if needed. |
