New Tax Court Ruling on Clergy Housing Allowance & Multiple Homes
Phil Driscoll owns two homes. One in Cleveland Tennessee and a lake home outside of Cleveland Tennessee. Phil Driscoll is an ordained gospel minister. Phil Driscoll Ministries paid for both homes and it was excluded from his income under the Pastor’s Housing allowance under Section 107 of the Internal Revenue Code of 1986. The IRS…
5 New Year’s Clergy Tax Resolutions
This year I will be more organized. I will make a tax file for the year. I will put important data in it during the year. I hate the stress of getting all my tax stuff together and crunching numbers, but every year it happens that way. Make one for 2010 as well, even though…
Five Important Facts about Dependents and Exemptions
Some tax rules affect every person who may have to file a federal income tax return – these rules include dependents and exemptions. Here are six important facts you should know about dependents and exemptions that will help you file your 2010 tax return. 1.    Exemptions reduce your taxable income. There are two types of…
Holidays & Weekends Affect 2011 Tax Deadlines
Every year, taxpayers in the United States have until April 15 to file their tax return or file an extension. Normally, the only exception is if April 15 falls on a Saturday, Sunday or national holiday. This year taxpayers get will an extra three days to file their 2010 tax returns due to a Washington …
Easy W-2 Filing for Clergy & Church Staff is a Click Away
The year is wrapping up and we’re ready to make W-2 filing easy! When your year-end data is ready, enter it on W2 data screen. Then relax! We’ll do the rest. Let us e-file, print and mail recipient copies and send you a confirmation that it’s all done. W-2s have never been easier! PRICING W-2…
IRS Delays Start of Filing Season For Some Taxpayers
Clergy who claim deductions for home-mortgage interest, gifts to charity and state and local taxes will have to wait until middle to late February to file their 2010 returns. The Internal Revenue Service attributed the late start of the filing season to changes in tax law for 2010 that were finished last week. The agency…
How the Obama tax bill will affect church employees
On December 17, 2010, President Obama signed into law H.R. 4853, the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act Of 2010, which will affect every U.S. employer and several areas of payroll, tax and benefits administration in January. Back in 2008, after the passage of the 2008 stimulus package, many taxpayers received $300…
Clergy who claim deductions for home
IRS Updates Mileage Rates for 2011
2011 Standard Mileage Rates The Internal Revenue Service issued the 2011 standard mileage rates used to calculate the deductible costs of operating an automobile for ministry, business, charitable, medical or moving purposes. Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, or pickups ) are listed below….
Payroll for Churches and Religious Organizations
The end of the year is the perfect time to switch payroll companies. Clergy Financial Resources offers an easy online payroll management service that specifically meets the requirements of religious organizations. We have an unparalleled tax expertise on the complex issues associated with church payroll and clergy compensation. Sixty percent of churches do not follow…
