Serving God and spreading the Good News often requires going outside of your comfort zone and even overseas in order to spread the Word. If God is leading you to teach the masses as a missionary, it’s necessary to consider everything that being a missionary entails which also includes proper tax preparation.
According to IRS Tax services, missionaries fall under the definition of ministers. Ministers and missionaries both are people that are considered ordained by a licensed religious group to conduct religious worship, administer ordinances and follow a church’s prescribed system of beliefs. Therefore a missionary is responsible for filling… Continue reading
Ministers can request exemption from paying self-employment taxes which includes exemption from Social Security taxes. Exemption must be applied for using IRS Form 4361 which can be a bit tricky. Here are the steps to take in order to accurately and easily fill out and submit the form.
1. Download Form 4361 from the IRS website and enter the basic info requested in section 1 including your social security number.
2. Fill out the religious position description that best describes you in Section 2.
3. Enter the date you were ordained and/or licensed in Section 3. A supporting document must… Continue reading