Clergy Housing and the IRS - The Housing Allowance 1 Credit
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Is your understanding of clergy taxation comprehensive, particularly regarding the perplexing concept of the "housing allowance"? The "housing allowance" is a vital component of clergy taxation that frequently mystifies tax professionals. This online course aims to demystify the complexities surrounding the "housing allowance" and its implications for ministers' tax responsibilities. Although the "housing allowance" offers substantial tax benefits for clergy, it's crucial to note that it doesn't exempt them from self-employment tax—an intricate aspect that warrants meticulous examination.
This CE Tax webinar serves to clarify the "housing allowance" by delving into its historical development within US Tax Law. Participants will gain a comprehensive understanding of the various terms employed by the IRS concerning this tax benefit, enabling them to navigate its application effectively. Furthermore, the course will explore the distinct tax treatment of the "housing allowance" concerning income tax and self-employment tax. This knowledge is pivotal for tax professionals to accurately prepare clergy clients' returns, providing them with the tax benefits to which they are entitled and reducing their tax liabilities compared to non-clergy taxpayers with similar compensation.
By enrolling in this CE/CPE course, tax professionals will gain essential insights into tax planning strategies for ministers, whether they receive a cash housing allowance or reside in a home provided by their religious organization. It equips participants to navigate the intricate landscape of the "housing allowance" within the bounds of the law, ensuring precise tax preparation and tax planning to maximize the available benefits for clergy members.
Major Topics Covered:
Unlock the secrets of the "housing allowance" and enhance your proficiency in clergy taxation with this comprehensive course.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01786-23-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01786-23-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1427) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01786-23-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01786-23-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01786-23-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02227-24-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02227-24-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1800) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02227-24-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02227-24-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02227-24-O) | 1 CE | Approved |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.
Bill Davidson (EA, MDiv, ThM) has worked with ministers’ tax returns and planning for over 35 years. He is keenly aware how the unique (and contradictory) regulations regarding the taxation of clergy compensation has frequently led to misinformation and inaccuracy. As Manager with a prominent tax firm he was the “go to” authority for tax professionals who had questions about clergy tax matters. As an ordained minister himself, he has keen insight into the needs of clergy clients.
His career as Senior Pastor of churches and Tax Manager specializing in tax preparation and planning for ministers has uniquely prepared him to assist tax professionals in serving their clergy clients. He also volunteers with the local IRS VITA (Volunteer Income Tax Assistance) program for the underserved sponsored through the United Way.
His courses are more than a “talking head,” charts, and words on a screen. He brings a creative and refreshing approach to this distinctive area of tax knowledge that provides ample practical examples applying the material presented.
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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
PS
The presenter did a very good job, through the use of examples to clearly discuss and show how the housing allowance works for income tax and self employment tax purposes. The pace of the webinar was good and allowed for note taking. This is a topic that may not apply to every CPA or tax preparer but one that could baffle a tax preparer the first time they experience a client who qualifies.
DA
Absolutely Great!!!!! It was simple, yet detailed and broke everything into management blocks of knowledge and application! It helped give me simpler ways to explain to my clergy clients.
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