Health Care Reform Legislation Requires the W-2’s Show Value of Health Coverage

UPDATE 10/21/10: The IRS has announced that the health care reporting requirement will be optional in 2011 and mandatory in 2012.  From the IRS “to provide employers the time they need to make changes to their payroll systems or procedures in preparation for compliance with this requirement, the IRS will defer the reporting requirement for…

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Prepare for Your Church’s 2011 Budget

In today’s economy, setting up a church budget can be a challenging task. The 2010-2011 Compensation Handbook will help make sure your church staff will be fairly compensated.

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Clergy Housing Allowance: Principal Residence

In the case of a taxpayer using more than one property as a residence, whether property is used by the taxpayer as the taxpayer’s principal residence depends upon all the facts and circumstances. If a taxpayer alternates between 2 properties, using each as a residence for successive periods of time, the property that the taxpayer…

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Clergy Chartible Contributions FAQ’s

We are always encouraging people to volunteer their time to help their church or other nonprofit organizations. Shouldn’t people who do volunteer work be provided with a tax deduction to compensate them for their donation of time?

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Clergy Commuting Expenses

You cannot deduct the costs of taking a bus, trolley, subway, or taxi, or driving a car between your home and your main or regular place of work. These costs are personal commuting expenses. You cannot deduct commuting expenses no matter how far your home is from your regular place of work. You cannot deduct commuting expenses even if you work during the commuting trip.

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Accountable Reimbursement Plans Are Often Misunderstood By Church Administrators

Accountable Reimbursement Plans Your church should establish an accountable reimbursement policy. Clergy are allowed to exclude all reimbursed expenses from their reportable income. The church reimbursement policy should include the following, but not limited to: office supplies, religious material, subscriptions and paperbacks, meals, entertainment, seminars, dues and memberships, library, educational expenses, camps, legal and professional…

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Church Tax and Payroll Support

At Clergy Financial Resources, we think our tax and payroll support is just as important as our other services. We offer support plans in many forms and it starts with our very first conversation with you. We give you all the information you need, quickly and conveniently. Church Support has become the most valuable tax…

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