Last time, in Pastor Housing: Parsonage or Housing Allowance, I shared that when it comes to pastor housing, more congregations are opting to sell the church parsonage and allow their pastor to purchase their own home with a minister's housing allowance. This can reduce expenses and hassle for the church, and is often of financial benefit to the pastor, especially when it … [Read more...] about When a Parsonage Makes Sense for Pastor Housing
Clergy Tax Issues
Pastor Housing: Parsonage or Housing Allowance?
When it comes to pastor housing, more and more churches are opting to sell the parsonage and allow the pastor to purchase their own home with a housing allowance. Last week, I traveled out of state to speak at a church's missions conference. The pastor and his wife hosted me in their home. As they were showing me around, I learned that their home had been the church … [Read more...] about Pastor Housing: Parsonage or Housing Allowance?
2011 Tax Guide for Ministers
Helping to make the tax season less taxing for pastors, Zondervan has just released the 2011 Minister's Tax and Financial Guide. Zondervan has produced this trusted tax guide for many years. 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 … [Read more...] about 2011 Tax Guide for Ministers
2011 Clergy Tax Changes
Congress made several tax law changes in late 2010 - some of which impact ministers and churches. The following information about clergy tax law changes is from CapinCrouse, a CPA firm that specializes in church and nonprofit tax issues. Non-Clergy Income FICA Changes for 2011 The Social Security payroll tax on individual wages (FICA and Medicare) will be lowered from 7.65% to … [Read more...] about 2011 Clergy Tax Changes