Webinar – Clergy Tax Return Basics
Clergy Financial Resources would like to invite you to a webinar designed to teach the basic method of completing a clergy tax return. The webinar is designed for clergy who are interested in recognizing new ways to minimize their own tax liability, in addition to, gaining a better understanding of the current tax laws that affect clergy today. Each webinar will be led by a clergy tax professional and will last between 45 to 60 minutes based on the level of discussion during the session.
Time: One-to-One | Contact Office To Schedule
Topics: Clergy Tax Return Basics
Who Should Attend:
• Clients
• Clergy
• Associate Pastors
• Youth Pastors
What You Will Learn:
• Review common clergy tax return errors
• Review a clergy tax return
• How to report clergy income
• Calculate self-employment income
• Understand IRC 265
• How to report honorariums
• employee vs self-employed
• Clergy dual filing status
• Taxable income
• Housing/parsonage allowance
• Reimbursement plans
• Professional expenses
• Tax Record Keeping
• Ways to reduce your overall tax liability
• and more…
Education level: Basic
If you would like to register more than one individual for this webinar, please enter the correct number of participants in the quantity box below, e.g. 2=two person, 3=three people, etc.
Schedule Webinar Training:
You can schedule your one-on-one by contacting our office directly to coordinate a convenient time
Clergy Financial Resources
Tax I Payroll I Bookkeeping I HR
11214 86th Avenue N.
Maple Grove, MN 55369
Tel: 1 (888) 421.0101
Fax: 1 (888) 876.5101
Qualified Disaster Relief Payments
Qualified Disaster Relief Payments As the pandemic moves into a new phase and churches and offices are starting to resume normal operations, it may be time to revisit Internal Revenue Code (the Code) Section 139, an underutilized and often overlooked Code Section. It is an opportunity for churches to reimburse individuals for prior and ongoing…
What is an exit interview?
What is an exit interview? An exit interview is a conversation with a departing employee about their time at the church and the reason for their departure. It’s completely optional, but some employers conduct them to learn about workplace issues they may want to address. Exit interviews can be a good opportunity to get the…
Reporting Group life Insurance
Reporting Group life Insurance Group-term life insurance, or group life insurance, is an insurance policy that covers a group of people, like employees in a church, rather than individuals. A group-term insurance plan is a fringe benefit, which is a benefit offered in addition to an employee’s regular wages. There are taxable and nontaxable fringe benefits….
Generosity at Year’s End
Generosity at Year’s End The end of the calendar year is a time when donors often give generously to churches and other charities. Now is the time for churches to think about how this time of year can help with revenue. Many churches and other religious charities have joined in the global generosity movement known…
W-4 Withholding Calculator for Clergy
W-4 Withholding Calculator for Clergy According to IRS rules, income tax withholding for ministers is voluntary. If you do not complete a W-4 form, or if you indicate “exempt”, no federal tax will be withheld, and you should make quarterly estimated tax payments. Alternatively, you can complete Form W-4 so that your church withholds a…
Ministry Mileage
Ministry Mileage Documentation of expenses is vital to an acceptable accountable reimbursement plan. Pre-Covid, ministry mileage driven is generally the minister’s greatest expense. Some ministers have contended that every mile they travel is in the furtherance of their ministry – and thus reimbursable. Their contention is based upon the fact that they never stop being a…
Retirement 403(b) Plans for Ministers
Retirement 403(b) Plans for Ministers While it is true that ministers, and other church employees, may earn less than those performing similar jobs requiring similar skills in the secular world, there are unique tax advantages that can help offset the compensation differences. One of the greatest advantages for church workers is the 403(b) retirement plan….
Is it Vacation or Paid Time Off?
Is it Vacation or Paid Time Off? Traditionally, churches offered separate paid time off benefits to employees, such as paid vacation, sick leave, and personal days. However, in the past decade, many churches have moved to a more flexible Paid Time Off or “PTO” benefit that incorporates all policies into one all-inclusive PTO plan. The…
Expense Reimbursement Policy
Expense Reimbursement Policy The Church should set up a written Expense Reimbursement Policy to cover all reasonable, ministry-related expenses. The policy should outline any item that may be considered a qualified expense for the church. Any expense that does not fall within your guidelines must be approved by the appropriate supervisor before the expense is incurred….