Churches are exempt from federal income taxes, but they’re not exempt from following strict IRS rules. Church administrators must correctly report payroll, process donations, and recognize and report unrelated business income. Tax rules for ministers are also complex. Churches need to understand who is and is not a minister for IRS reporting purposes, plus manage other tasks as providing a parsonage or housing allowance, and properly reimbursing ministry related expenses.
Date: Wednesday, February 25, 2015
Time: 12:00 – 1:00 pm
CPE Credit: 1.0
Objectives for this webinar:
- Understand the IRS definition of a minister
- Learn how a minister’s income is taxed
- Find out the unique tax treatments that are available to ministers
- Understand how to report the minister’s salary/wages and taxable benefits on Form W-2
- Understand various tax requirements and best practices for board members
Please join us. You’ll also have an opportunity to receive answers to your specific questions.
Becky has 30 years of public/private accounting experience with a specialization in nonprofit organizations, churches, and ministries.
Christina provides tax services to individuals and businesses, nonprofit organizations, and career schools and colleges.
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