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…
Lawsuit Challenging Clergy Housing Allowance Dropped
In 2009, the atheist group ” Freedom from Religion Foundation” filed a lawsuit challenging the constitutionality of Sections 107 and 265(1)(6) of the federal tax code, which establishes the housing allowance for ministers. Their argument stated that the unique benefit set aside for “ministers of the gospel” is a violation of the separation of church…
Department of Justice Appeals “Multiple Home” Housing Allowance Ruling
On May 24, 2011, the United States Department of Justice appealed the tax court decision made in the Philip Driscoll housing allowance case. In December 2010, the United States Tax Court ruled that clergy could use the parsonage allowance exclusion for two homes as long as they are both used exclusively as personal residences. Related…
Five Important Facts about Dependents and Exemptions
Some tax rules affect every person who may have to file a federal income tax return – these rules include dependents and exemptions. Here are six important facts you should know about dependents and exemptions that will help you file your 2010 tax return. 1. Exemptions reduce your taxable income. There are two types of…
IRS Updates Mileage Rates for 2011
2011 Standard Mileage Rates The Internal Revenue Service issued the 2011 standard mileage rates used to calculate the deductible costs of operating an automobile for ministry, business, charitable, medical or moving purposes. Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, or pickups ) are listed below….
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.
Clergy Love Gifts
Are “love offerings” to clergy always taxable income?
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…