Clergy Housing and the IRS - The Housing Allowance 1 Credit
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Clergy housing and the IRS tax rules surrounding the housing allowance can be tricky for tax professionals to navigate. Many may not fully understand the unique tax advantages and implications for ministers, especially regarding income and self-employment taxes. Did you know that while a housing allowance is excludable from income tax, it’s still subject to self-employment tax? This course will clear up the confusion and provide tax professionals with the knowledge to manage the housing allowance for clergy effectively.
In this course, we will explore the key factors in determining the housing allowance and how it impacts tax planning for ministers. You’ll gain a deeper understanding of the IRS’s specific requirements for clergy housing benefits, including the historical context and terminology used in the tax code. This is a vital topic for tax preparers working with clergy or religious organizations, ensuring that they can make informed decisions and help their clients maximize tax benefits while staying compliant.
Major Topics:
By the end of the course, you will be equipped with the tools to navigate clergy housing allowances with confidence and precision. Whether your clients receive a cash housing allowance or live in a provided home, this course will help you provide the best tax advice possible. Don’t miss out on this essential training!
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
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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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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