Description:

This book is for preparing 2024 taxes. The tax code has unique provisions related to clergy and how they report income, expenses and credits. This course covers the basics of preparing returns for clergy members and ministers. You’ll also learn about compensation, fringe benefits, accountable plans, housing allowances and the application of payroll tax to clergy members.

Topics include:

• Identifying who qualifies for special tax treatment as clergy
• Analyzing the dual-status nature of clergy
• Identifying clergy compensation, including fringe benefits and love gifts
• Categorizing valid expenses for clergy
• Calculating the nondeductible portion of business expenses based on tax-free income
• Learning the requirements for the clergy housing allowance
• Identifying what clergy income is subject to self-employment tax

Product Details:

Item Number: E24307

Level: Basic

Authors: NATP Staff

Published: 2024

Format: Electronic PDF - 132 Pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2024 course.

When purchase is complete, you can obtain your product at My Downloads.

Electronic products are nonreturnable.