for Ministers and Clergy Members
“If you are a member of the clergy, you should receive a Form W-2, Wage and Tax Statement, from your employer reporting your salary and any housing allowance. Generally, there are no income or Social Security and Medicare taxes withheld on this income…”
Year-end tax planning tips
"Many of us only think of our taxes when we sit down to pull information together to complete our tax returns, but by then it is often too late to make changes that could potentially save on our taxes, or at least make preparing our taxes easier..."
Tax Reform Provision Targets Churches and Nonprofits
"To put this provision in the proper context, it’s helpful to understand fringe benefits. Generally, compensation and benefits provided by employers to employees are taxable..."
How Tax Reform Affects Charitable Giving
"A key component of the new tax law doubles the standard deduction that approximately two-thirds of Americans use, to $12,000 for individuals and $24,000 for married couples. This means that..."