The Accountable Reimbursement Plan that FBMI uses is a helpful way to protect missionaries from paying personal income taxes on money that was spent for ministry. Because of a missionary’s employee status with FBMI, he is able to report back on any ministry expenses and be reimbursed in the following month for those expenses. As many of you know, the End of Month Report (EOM) is how a missionary reports on these ministry expenses. Missionaries who use the EOM are able to claim and be reimbursed for all ministry expenses, including things like ministry rent, printing, and even transaction fees. While every missionary’s life and ministry are different, some missionaries are able to claim a good portion of their support each month as ministry expenses.
This Accountable Reimbursement Plan is available to all FBMI missionaries, and we encourage each one to take advantage of the EOM and its associated benefits. You can specifically choose to forego this tax benefit, or you can begin anytime by visiting End of Month (EOM) Report Form – FBMI. We also encourage you to talk to your FSC with any questions.
Thank you for your love and service for our Lord Jesus Christ!