Protect Your Data
What to Do If You Suffer a Data Breach or Other Security Incident Should you experience a data compromise, there are certain basic steps you should take. Preliminary steps include: Contact the IRS and law enforcement: Internal Revenue Service – Report data theft to your local IRS Office. They should notify IRS Criminal Investigation and others within the…
Scam Alert – Loans
CLERGY FINANCE SERVICES 9533 TELEGRAPH RD PICO RIVERA, CA (888) 444-6897 Website: http://clergyfinanceservices.com/index.html (This address belongs to a donut shop) Source: https://www.scamwarners.com/forum/viewtopic.php?f=35&p=316664 https://www.yelp.com/biz/master-fresh-donut-pico-rivera If you have a complaint against Clergy Finance Services , you can file a complaint through a toll-free Consumer Help Line, 1-877-FTC-HELP (1-877-382-4357) or online with the Federal Trade Commission. Please use Reference #79819093. https://www.ftc.gov/…
Scam Alert – Tax
Hundreds of Southland Clergymen Had Invested : Securities Company Run by Minister Is Placed in Receivership by Court AL DELUGACH and JOHN DART | Los Angeles Times Hundreds of active and retired Los Angeles-area clergymen are among the nearly 1,000 people who invested more than $12 million through a Downey securities firm run by a minister…
Who needs to file a W-2 (W-2c)?
Who needs to file a W-2 (W-2c)? W-2: Churches must file W-2 forms for wages paid to each non-clergy employee from whom income, Social Security, or Medicare tax was withheld. Churches must also file W-2 forms for wages paid to each clergy from whom income tax would have been withheld. W-2c: Form W-2c must be filed by employers to correct errors on W-2 forms that have…
Church Management Software Evaluation
Solutions from church and donor management software providers keep improving in their ability to help churches and ministries fulfill their mission! Their features to track and communicate with people, their web and mobile device interfaces, and their powerful database tools make this category of software a big help and valuable asset for today’s ministries ….
W-2 Reporting for Housing Allowance
Housing allowance is a portion of clergy income that may be excluded from income for federal income tax purposes (W-2 “Box 1” wages) under Section 107 of the Internal Revenue Code. Housing allowance is reported in box 14. To be eligible, the pastor/clergy must be a “minister of the gospel” and be ordained, licensed, or…
Salary, Staff, and Budget Trends
For help with church compensation, check out the 2016-2017 Compensation Handbook for Church Staff.
Avoid a Tax Audit with Unreimbursed Ministry Expenses
Most of the time, clergy get reimbursed by their church for any ministry/business expenses they pay for themselves. As a result, the IRS looks carefully at unreimbursed ministry/business expenses. Many items are potentially deductible, including dues and license fees, subscriptions to subscriptions and publications related to your ministry, supplies, and professional clothing. Yet the temptation among…
Tax Deduction That Could Lead to an Audit
Getting audited can be the worst nightmare for clergy, but that shouldn’t stop you from taking advantage of the tax deductions you’re legally entitled to take. You should just take care to make sure you have the documentation you need to back up your deduction if the IRS decides to take a closer look at your return….
Opting Out of Social Security
A minister who wishes to be exempt from social security/Medicare tax must file a Form 4361 with the IRS for approval. Before your application can be approved, the IRS must verify that you are aware of the grounds for exemption and that you want the exemption on that basis. IRS Form 4361 When your completed…
