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New Clergy
Starting Out Right
Our goal is to make sure you get off to a great start.
If you’re new to the ministry, it’s crucial that you acquire sound tax and financial advice early. We know that a false start can set you back, making it harder to catch up later. Most ministers, in fact up to a third, don’t realize all the tax benefits available to them. This often costs them thousands of dollars over the course of their ministries.
We’d love to give you a simple answer about choosing your best strategy.
Not all people’s situations are alike. Therefore, the best options
can only be determined with an in-depth discovery. This is what we’re
best at. The most efficient way for you to learn about your optimal choices
is to consult with a clergy tax expert who is skilled and experienced.
Your first consultation addresses two main concerns:
Clergy Tax Basics: How the whole clergy tax thing works. This will
answer your questions about:
• Whether or not to be exempted from Social Security.
• Social Security Self Employed Status for Ministers
• Housing issues and Housing Allowance qualifications and options.
• Who qualifies as a minister?
• What forms to use reporting ministerial income, W-2 or 1099?
• Reimbursement of ministry (Job) Expenses
• Is an HRA the right way to go?
• Four Tax Rules for ministers only.
• Medical Insurance and Reimbursement of Medical Expenses.
• Taxable Income, Non-taxable Income (what to exclude from W-2 forms)
• Personal Record keeping
• Important information your treasurer should know. We’ll even help
you talk to your
church administrators to structure your pay package so both you and
the church can
benefit and start saving right off the bat!
Your Tax Projection for the upcoming year, so there are no unpleasant
surprises.
That means you’ll know exactly how much your taxes will be based
on your
current situation. We’ll provide all other relevant information to
get you started right.
You’ll know the best choices and strategies available to you.
