participantsHealthflex can “Seek the LORD while He may be found; call on Him while He is near.” Isaiah 55:6 earn up to $410 in HealthCash in ’16! Page 4 WINTER 2015-16 ActivateUNY Conference Benefits Office Newsletter Greetings! Get your financial house in he start of the new year is order ... one month at a time prime time for merchants T By Vicki Putney able to pay your taxes on time. to push sales of organizational Benefits Officer By now you should have your W2 tools. The problem is you have anuary is when you ought to be from your to go home and put those church(es) or tools to J thinking about organizing for the NEXT tax season. Start a file 1099R from use! Getting GBOPHB. organized folder for 2016 compensation The GCFA financially Clergy Tax generally items. File in it Packet can be found here: www. doesn’t a copy of: your unyumc.org/about/payroll- require buying compensation taxes-and-reporting. If you anything … form(s), the approved want to invest in a tax preparation but it does software, be sure to get a version require an Housing Allowance/ that deals with self-employment investment Putney and clergy income. If you don’t feel of time. Exclusion resolution from charge conference, the UMPIP (or other comfortable, listen to your inner Check out my article (at right) self and GET HELP. Doing taxes about small steps you can take IRA) contribution agreement form, and confirmation forms of health well is crucial to your financial throughout the year to get your health. financial health in order. No one insurance elections related to flexible spending accounts. This Now … in March, plan ahead else is going to do it for you, for easing the and no one else is going to take is your compensation, and you should be responsible for having pain for the next care of your financial needs in tax year. You retirement, so resolve to get the information you need when you need it. If your treasurer is now know what your house in order. your tax liability Speaking of getting the house experiencing difficulty preparing your W2, direct him/her to this was for 2015 so in order, I am a firm believer that set up a process to either 1) making working – and living – in a neat, web page www.unyumc.org/ about/church-employers appropriate quarterly estimated attractive atmosphere is essential tax payments throughout 2016, or for mental/emotional health. for help. Also, set up new files for: misc. income/honorariums, 2) adjust or set up tax withholding. When I work in a pleasant, While churches are not required to organized space, there is less estimated tax payment record or W4, unreimbursed business do tax withholding, it is your right distraction. I enjoy being in such to ask for voluntary tax withholding. a space – I’m not anxious to expenses, housing costs, charitable contributions, medical, and out-of- April, of course, escape – and I can focus on the is the time to file task at hand rather than the piles pocket medical expenses. It may be the month of hearts those taxes and of undone projects. I can easily make any payments feel a sense of accomplishment and flowers, but no one likes to do taxes. Don’t procrastinate … needed for the when I complete a task and file previous tax year. it away. Now, I do have my times start your tax return in February because the sooner you know your Relax … if you’ve SEE FINANCIAL HOUSE PAGE 2 SEE GREETINGS PAGE 2 tax liability, the better you will be Upper New York Conference Benefits Office 324 University Ave., 3rd Floor, Syracuse, NY 13210 (855) 424-7878 • [email protected] 2 Activate / WINTER 2015-16 Get your financial house in order – Continued from front cover Whether you are contemplating costs. There is a lot to see and do retirement or retiring and moving, followed the steps above, you’ve in Upper New York that is free it’s a good time to consult with the taken a huge leap in getting yourself or low cost; we live in an amazing organized! financial planners at Ernst & Young, state! Surf the web for ideas or or EY as they are now Back to work in May … Chart crowdsource on Facebook for ideas your debt. This is scary, but you known. This is a free from your friends and colleagues. must do it to achieve the financial service for anyone If you haven’t done this already, stability you deserve. Use Excel who has a General August can be a good time to or pen and paper to list all your Board of Pension and prepare a spending plan budget. creditors, the interest rate you Health Benefits (GBOPHB) account EY can supply you with budgeting are paying, current and you will receive professional tools (see contact info above) and, balance, minimum advice without sales pressure since of course, there are reliable sources payment due, and EY does not sell any investment on the web any special terms or insurance products. EY can through sites of payment; i.e. “1 percent until assist with understanding the UM such as: US January 2017 then 17 percent APR.” retirement plans, housing questions, News, Kiplinger, Chart out this year’s payments retirement planning, budgeting, Dave Ramsey … … make the bottom line of your debt management, evaluating the list is endless but I recommend chart the amount you can pay insurance needs and options, and sticking to known sources. AARP each month toward debt. Then more. Check out this web page: recommends two mobile apps for fill in the monthly payments … www.gbophb.org/retirement/ tracking your spending: Mint.com focus on honoring any special services/ey/ or simply call EY or Levelmoney.com; both are terms of payment and paying off directly at (800) 360-2539 from free. the highest interest rate debt. Monday through Friday 8 a.m. to 7 September brings with it Make minimum payments at the p.m. Central Time. the start of a season of planning very least and if necessary plan on July is vacation time in Upper for the new church year, budget minimum payments for some of New York! If you have planned a preparation and such. Since you did your debt in order to pay off the trip, be sure to track your costs your spending budget last month, debt you’ve identified as a priority. to facilitate planning and saving you have a clear While you’re at it, check that an appropriate picture of your there are no mistakes or instances amount for the expenses, and of fraud on your credit report. next trip. Even now would Suze Orman recommends: www. if you are having be the time annualcreditreport.com. a staycation, to discover June is typically retirement do the same where you can and/or moving season for clergy. because there can be lots of hidden save money. Chart your insurances by listing types, carriers, policy numbers, beneficiaries if applicable, contacts, claim information and Greetings from Vicki – annual/monthly costs. Create a file so you (and others) know Continued from front cover what you have and how to access of messiness! But I never let those times linger and become the it. Determine whether you are norm. under-insured or over-insured I am excited about the opportunity to help our team design to make adjustments. Use your an efficient, healthy, hospitable, and pleasant work place/meeting policies’ declaration page to space within the new Conference Office. It is possible to create submit requests for quotes from beauty on a budget, and I look forward to that new chapter in the other insurers. Seek savings on life of the Upper New York Conference! utilities or cable/phone/cell phone Vicki L. Putney services by contacting providers or Conference Benefits Officer employing common sense tactics. Activate / FALL 2015 3 Eating healthy costs more, and it’s in order to save on monthly fixed proud of the progress you’ve made worth it, but you can save on other premium costs? Can you budget for in your financial planning. Make purchases by utilizing coupons higher deductibles by contributing a Christmas list and budget gift wisely. Caution: Don’t buy just to an FSA? Are you planning any spending because you have a coupon; only surgery or in-hospital stays that … but, buy if you need the item! will require payment of 20 percent somehow, Gotta love October, even if coinsurance? Make your decisions put you don’t love the subject of health prior to your insurer’s annual people insurance. This is the month you election deadline. There is no grace before money. Blessings are to be should evaluate your use of a period! counted before dollars. God and flexible spending Take time in December to be prayer will guide you! account. If you have one for 2016, check Stay active this winter with mall walking your balance all walking has become hugely sections. With the new expansion it remembering Mpopular in recent years. is closer to two miles of walking. that only $500 can carry over and Some of the reasons include safety, Syracuse Area – Destiny USA be used after Dec. 31, 2016. This is climate control, and accessibility. The mall welcomes walkers at 6 a slight change from the “use-it-or- Some local malls are even starting a.m. There is a coat rack and even lose-it” rule. If you have not used a mall-walking programs that may a 25-cent scale near the first floor flexible spending account, consider include perks from mall stores.