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Determining Housing Allowance on Minister Taxes

There are a number of tax exemptions that ministers can benefit from as long as ministers are aware of these exemptions. One of the most common is a tax exempt housing allowance. All expenses for housing which includes furniture and maintenance can be deducted legally. Here is how to determine if you are eligible and how to go about it. 

Determine Eligibility

A minister is defined by the IRS as a person who is “duly ordained, commissioned, or licensed minister of a church.” Religious employees that don’t have these credentials are not eligible for the housing allowance.

Deductions

Once… Continue reading

Gift Giving and Minister Tax Implications

Ministers do a great deal for their congregations. They offer an abundance of love, support and guidance for their parishioners, but above all else they teach and offer God’s love and words to those that need it most. For this reason, ministers often receive gifts from their congregation as tokens of their appreciation, these types of ‘love offerings’ often consist of cash or non-cash gifts and are often received throughout the year. These gifts are lovely sentiments, however, ministers need to keep in mind the minister tax implications that these types of gifts carry with them and how to properly… Continue reading

Ministers Take Note: Tips for Properly Filing Your 2012 Taxes

It’s been said that there are two things in life that you can count on, death and taxes. If you’re a minister you’ve most likely got the first one covered, it’s the taxes that may cause some issues. Minister taxes can be somewhat complicated, so if you’ve been called to the ministry it may be a good idea to consider preparing your 2012 taxes early and to talk with a tax professional about the best ways to properly file your taxes. 

As a minister that earns income, you still have to file taxes with the IRS and the state… Continue reading