- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 2.0
Members of the clergy represent a truly unique group of taxpayers. Taxpayers performing services in the exercise of ministry are subject to a dual-status tax treatment: as employees for income tax purposes under the common law rules, but as self-employed taxpayers for social security purposes. This course discusses not only the dual-status tax treatment of members of the clergy, but other unique tax considerations associated with the members of the clergy. NOTE: This course has been updated for the relevant 2018 provisions of the Tax Cuts and Jobs Act and Bipartisan Budget Act, when and if applicable.
This basic level course is most beneficial to professionals new to clergy tax considerations who may be at the staff or entry level but may also benefit advanced professionals with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
identify self-employment tax issues and net earnings from self-employment subject to self-employment tax;
determine the excludable housing allowance;
identify allowable tax deductions; and
identify retirement plans available to ministers.