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Clergy Advantage, Inc.

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clergy@clergysupport.com
clergy@clergyadvantage.com

970.667.5819 (office)
970.663.4950 (fax)
Open M-F 9am-4pm (extended hours Jan-April)

Loveland Office:
2093 East 11th Street, Suite 200
Loveland, CO 80537-3239

Denver Office:
9101 Pearl Street
Suite 212
Thornton, CO 80229

Clergy Advantage® exists to help ministers maximize their financial potential in a total plan through clergy tax preparation and tax and financial planning specifically designed for clergy and those in ministry. Our goal is to provide financial peace of mind that will free you for what’s most important in life; your family and your ministry. Looking at your taxes through the lens of a minister means knowing how to implement your unique benefits for their greatest potential.

To do that really effectively, it requires knowing and understanding clergy tax regulations and planning strategies inside and out. Our tax and financial specialists use clergy housing allowance, clergy retirement & financial strategies in a total plan that can dramatically affect you and your family’s financial well-being now and for years to come. Call or email to learn how we can assist you to improve your financial well-being.

You owe it to yourself to see if a Roth IRA is a good strategy for you. We’ve used and advocated converting retirement income into a Roth IRA for many people over the years, but it has become even more appealing due to new tax provisions for 2010. Some of the restrictions on converting money to a Roth have been removed and you can actually undo any portion of the conversion as late as October of next year.

Who should look at a Roth IRA Conversion?

This is an individual discussion because of all the various concerns and factors for each situation. We’re suggesting that everyone take a look at the benefits of converting some or all of a regular IRA into a Roth, particularly if you’re a married minister or in a high or low tax bracket. Many ministers in the 0% tax bracket don’t realize it because of their housing allowance. These people definitely meet some of the criteria to consider a Roth conversion. However, you can’t automatically disqualify yourself if you fall into the middle ( 10-15% ) tax brackets either. Don’t believe you’re too young or too old for this strategy to work for you, either. For many, but not all ministers, the best time to consider this strategy is when housing espenses are highest.

Your state tax and estate plan need to be taken into account, as well as, the cost and possible tax ramifications for the year of the coversion and a myriad of other factors, so it’s not as simple a calculation as one would hope. Most people shouldn’t try to figure this one out on their own. The best way to determine and weigh all of the necessary factors is to evaluate your situation carefully with a qualified tax planner and financial advisor. We’ll go deeper into the ramifications and criteria if you’d like to call us for a personal evaluation or join us for a free webinar for more details. Learn more details of Roth IRA Conversions in a free webinar to discover more about Who should convert and Why. Click here for information or to Register.