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A shift away from church-owned housing Analysis of national data set confirmed what many denominational leaders and others already knew. In 1976, about six in ten pastors lived in free housing—that is a manse or parsonage—and did not own or rent their home. By 2013, the percentage of pastors living in church-owned property dropped to only fourteen percent.  Cynthia Woolever

The IRS is alerting taxpayers that an email scam is circulating with fraudulent CP2000 notices, requesting payment related to the Affordable Care Act. The fraudulent notices instruct the taxpayer to send a check made payable to “I.R.S.” to a P.O. box address.   Notice CP2000 is a real IRS letter sent in many instances where information reported…

There has been an important development this month in the most recent court challenge to the minister’s housing exclusion brought by the Freedom From Religion Foundation (FFRF).  The federal government who has the responsibility for defending this provision of the tax code made its first filing in the case, and in doing so, conceded that based on…

Every year, millions of Americans become victims of identity theft. Identity theft occurs when someone steals your personally identifiable information and pretends to be you. They can use this information to open bank or credit card accounts, file taxes, or make new purchases in your name.   It is important that you take steps to protect…

FICA stands for “Federal Insurance Contributions Act.” This is the law that funds both Social Security and Medicare through payroll taxes. Churches share this cost with their employees. Your FICA contributions earn Social Security credits. For 2016, you need to make $1,260 in wages to earn one credit. You can earn up to four credits a…

Clergy Financial Resources has been the leading provider of tax, payroll and HR solutions exclusively for religious organizations and clergy for over 36 years. Every client is unique, every situation is different. https://www.clergyfinancial.com/

Clergy Continuing Education Churches should expect pastors to be involved in continuing professional and theological education programs which provide opportunities for personal development, enrichment of devotional life, and growth in pastoral effectiveness and competency. The purpose of continuing education is “professional growth” and “self renewal” as distinguished from program development, vacation, or  pastoral leadership retreats….

Designate a Clergy Parsonage Allowance (for clergy living in unfurnished parsonages) Designating a portion of salary as a “Parsonage Allowance” provides the single best tax advantage offered to clergy living in a parsonage.  A parsonage and/or furnishings allowance may be designated as a portion of annual salary and may be used by a pastor for maintaining and furnishing…