Non-Profit:

Set Up and Use Your 501c3 Tax Exempt Status

Save money and learn how to think like the IRS in setting up and managing your tax-exempt status 501c3 properly to make sure you’re getting every benefit available to you. Our free consultation will teach you everything you need to know, so there are no surprises. Clergy Advantage® has successfully obtained IRS Exempt Status for 800 churches and organizations. We’ll walk you through your application process to help you qualify for tax-exempt status and tax-deductible donations based on criteria that is significant to the regulating authorities.

Call today for a free initial consultation where you’ll learn:

  • If your organization will qualify for IRS Tax exempt status
  • How much it will cost
  • The complete time line
  • The four phases of the application process

(This free consultation is Not available January through April 15)

You’ll also discover strategies that will help you use your non-profit for full tax advantages. Most people pay far too much tax outside their organization and don’t know what opportunities are available to reduce tax liability. You’ll earn how to qualify for housing allowance and retirement status, and we’ll also prepare and file your annual 990 tax return.

And, for your complete clergy tax and church tax planning needs or clergy tax preparation, be sure to discover the rest of our website. For instance, you can learn about common costly mistakes by reading articles and blogs on our clergy tax guide page or attending our ongoing clergy tax webinars.

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.