Clergy Tax
Exam OnlyProduct Description
Updated for 2023! This course reviews the preparation of tax returns for members of the clergy. It covers housing allowances, fringe benefits, ministerial expenses, and accountable plans. We provide several practice aids for the church and the minister.
**Course was published in 2023**
Prerequisites
NoneField of Study
Taxes-2.00NASBA Categories
TaxesCourse Level
BasicCourse Objectives
We begin by defining a minister for tax purposes and then instruct how to prepare a 1040 with a minister for wages, consulting, self-employment tax and housing. We present how to determine the housing or parsonage exemption, how to establish the amount and how to prepare a return when confronted with an incorrect W-2. We also illustrate the election out of social security and how to calculate deductible expenses, concluding with a comprehensive example and completed 1040.