Zondervan recently published the 2012 Minister's Tax & Financial Guide to help make the tax season less taxing for pastors preparing 2011 clergy tax returns. The authors, Dan Busby and John VanDrunen, are tax, accounting and legal experts, and executives with the Evangelical Council for Financial Accountability. Busby is the ECFA’s president, and VanDrunen is their … [Read more...] about 2012 Minister’s Tax Guide for 2011 Tax Returns is now Available from Zondervan
Clergy Tax Issues
A reader asks: Can a pastor claim a housing allowance on more than one home? According to a recent Tax Court ruling (Driscoll v. Commissioner, 135TC27 of 2010), pastors can claim a housing allowance on more than one home! However, I wouldn't bank on this remaining true for long. This case involved Christian musician and ordained minister Phil Driscoll, who for several … [Read more...] about Can a Pastor Claim a Housing Allowance on More than One Home?
How should a pastor choose between living in a parsonage provided by the church and living in his or her own home with a housing allowance provided by the church? Matt asks: My wife and I may shortly be in the position to pick between a wonderful parsonage and a housing allowance. Unfortunately, I cannot find any math on how to make this decision. I'm looking for something … [Read more...] about Choosing Between a Church Parsonage & Pastor’s Housing Allowance
The clergy housing allowance exemption, one of the biggest tax breaks for American pastors, is under review and may be modified in the near future. The Evangelical Council for Financial Accountability (ECFA), a national accreditation organization for churches and other religious organizations, is leading an independent national effort to review and provide input on … [Read more...] about Changes to Clergy Housing Allowance Could be on the Horizon
Tax day 2011 has come and gone. Now's a great time for pastors to review your finances and look for more ways to reduce your state and federal tax burden. 1. Review your clergy housing allowance - Did you claim too much last year? Not enough? Just right? If you need to make adjustments, now's a great time to submit the changes to your church board to have it recorded in … [Read more...] about Clergy Tax Saving Strategies