Ministers’ Tax Preparation & Planning
Ministers are considered to be Special Taxpayers because of the Unique Tax Benefits available to them. To be eligible for these benefits, you must be considered Ordained or Licensed Clergy of your Faith.
How to structure these Tax Benefits, or whether or not to even implement some of them, depends upon your family situation, income level, age or retirement status, and certain election you may or may not have made.
These benefits don’t come automatically. They require planning! We can help you make the best of your current situation, and can help you make any appropriate changes to your compensation plan.
Remember, most swords have two edges, and while the special tax breaks for Ministers can be really sweet,if implemented incorrectly, you could underpay your taxes! And, underpaying can be financially devastating if allowed to continue.
Two Handy Organizers for Ministers are included on the Tax Info Page.
|MINISTERS – Housing Allowance Checklist||Worksheet for Ministers Housing Expenses|
|MINISTERS – Ministry Expense Worksheet||Ministers Expense Worksheet|
|Ministers Contribution Statement||Ministers Contribution Statement|