Tax Planning:

Clergy Tax Consulting and Planning Designed for You

Taxes can be downright confusing, let alone clergy tax rules and church tax law.  Trying to stay on top of it all can be a full-time job in itself.  If you’re like most clergy, your plate is already full and trying to read through the clergy tax guide requires more than you have to give.  As a minister, you have the opportunity to reduce your taxes in ways that others cannot, it’s our job to make sure you know about and use all of your unique benefits properly.  Many clergy forfeit incredible tax savings each year, negatively impacting their finances today, but also their financial futures. Let us help you take full advantage of your clergy housing allowance and the other incredible clergy tax savings benefits that are provided by the IRS.

So how can you begin saving money on your taxes this year?
We have created several options to help educate those in the ministry on the many tax-saving opportunities that exist.  The best way to discover what you need to know is to participate in one of our FREE Clergy Tax Planning Webinars.  They’re offered regularly throughout the year and have helped thousands of people just like you to avoid the mistakes that so many ministers have made in the past. Check out our schedule of upcoming Clergy Tax Planning Webinars to discover how to start saving.

In addition to our educational webinar series, we have developed two different clergy tax consulting packages so that you can have direct access to one of our clergy tax experts at reduced rates.  We all have questions when it comes to taxes and now you can have someone who is there to help when you need them.  And best of all, we have bundled our packages with several additional services, all at greatly discounted prices.

consultation_options

The Individual Tax Consulting:
Our Premium Support Package for Individuals will provide you with sound advice and peace of mind.  This package includes:

  • 2 hours of professional tax consulting advice
  • 1 hour Financial Review
  • Audit protection
  • Special Free tax-planning workshops like, “Setting up an Accountable Plan” and “What Every Church Treasurer Needs to Know.”
  • Proprietary Forms, Worksheets and Resources

The Church & Organizational Tax Consulting Package:
Our Tax Consulting package is designed to address clergy and church tax issues for larger organizations who want their entire team to benefit from our professional clergy tax preparation and planning services.  This package includes:

  • 6 hours of professional tax consulting advice, either individually or in a conference setting
  • Individualized tax and retirement workshops
  • 10% discount on all tax returns prepared by our professional clergy tax preparers
  • Access to Discounted Group Benefits
  • Clergy Advantage Church Administrators Help Packet with Forms and Worksheets

If you already have a good handle on clergy tax preparation and planning but just have questions from time to time, individual consultations are available for $45 for every 15-minute increment of your tax advisor’s time.  This includes personal meetings, phone calls, emails and correspondence.

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.