Description:

This book is for preparing 2023 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, and payroll taxes and its application to members of the clergy.

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
• Requirements for the clergy housing allowance
• Identifying what clergy income is subject to self-employment tax

Product Details:

Item Number: 23307

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print - 137 Pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 Course.