Appeals Court Rejects Multiple Housing Allowance Decision
On Wednesday February 8, 2012, the Eleventh Circuit Court of Appeals in Atlanta overturned a decision made by the United State Tax Court(Commissioner vs. Driscoll) regarding the ability for a clergy to claim more than one home as a housing allowance tax exclusion. In May 2010, a United State Tax Court finalized a ruling, from…
Health Care Information on my W-2?
When you get your 2011 W-2, you might notice some new information on the form. Box 12 is where the church will report the cost of your group health insurance coverage. This amount is both the amount the church pays as well as the premiums paid via payroll deductions. The amount, which will be designated…
Tax Documents Necessary to File
Statements are on the way from employers, banks, stockbrokers and other institutions and agencies that were involved in taxpayers’ financial lives last year. Each of these groups has, by law, until Jan. 31 to get their annual tax statements in the mail to you. Many taxpayers now receive these documents electronically. So be sure to…
Clergy Financial Resources Reminds Parents of Ten Tax Benefits
Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits. Here are 10 things Clergy Financial Resources wants parents to consider when filing their taxes this year. 1. Dependents In most cases,…
Keep the IRS off your back this month – W-2 & 1099 Filing
It’s time to mail out those W-2s and 1099s again. Yes, it feels like a waste of time and money, but pay attention: The IRS takes this very, very seriously. It’s a January ritual as inevitable as the collapse of New Year’s resolutions: The mailing of W-2s and 1099s. While your employees may regard their…
2012 Church & Clergy Tax Guide – NOW AVAILABLE
The 2012 Church & Clergy Tax Guide is now available for shipping. Get a better understanding of U.S. tax laws as they relate to pastors and churches with the 2012 Church & Clergy Tax Guide; learn how tax laws apply to you, how to correctly report your federal income taxes and social security taxes, understand…
Clergy Financial Resources Has Moved!
At the beginning of January 2012, Clergy Financial Resources completed their move to a new office building in Maple Grove, MN. As Clergy Financial Resources’ business has expanded nationally, our demand for office space has grown beyond the capacity of our current location. Our new office space will not only meet our current needs, it…
It’s beginning to look a lot like…Tax Season.
The income tax filing season has begun and important tax documents should be arriving in your mailbox. Even though your return is not due until April, you can make tax time easier on yourself with an early start. Here are Clergy Financial Resources’ top 7 tips to ensure a smooth tax-filing process. 1. Gather your…
2011 Clergy Tax Organizer – Now Available – $45.00
We are pleased to offer you the chance to discover the power of our innovative Internet-based products. The new 2011 Clergy Tax Organizer Online, a tax preparation guide. Each year we publish a tax organizer for clergy, which is designed to be used as a learning tool and reference guide. This organizer will assist you…
Church & Clergy – End of the Year Tax Checklist
December is a very busy time for churches and clergy. Extra services, Christmas shopping and holiday parties can fill your schedule before you know it. The end of year is an important time of the year for financial/tax issues as well. Here are a few things churches and clergy should be thinking about as we…
