2021 Church & Clergy Tax Guide

Find comprehensive help understanding United States tax laws as they relate to pastors and churches with Richard Hammar's 2021 Church & Clergy Tax Guide. Tax law, in general, is highly complex and ever-changing. Add to that the many unique rules that apply to church and clergy and you're set up for a challenging task that requires an expert's guidance. The guide helps clergy: Prepare 2020 tax returnsUnderstand tax lawsCorrectly report federal income taxes and social security taxesDistinguish relevant exemptionsReduce tax liability The guide helps church treasurers, board members, bookkeepers, attorneys, CPA's and tax practitioners: Navigate the CARES ACTDefine "income" for the churchHandle and report employee business expensesUnderstand the substantiation rules that apply to charitable contributions and designated contributionsGrasp federal tax reporting requirements that apply to churches and church employees Beyond help preparing annual tax returns ministers, churches, and their advisers find the guide indispensable throughout the year with in-depth coverage on: Charitable contributionsClergy retirement plansSocial Security taxesChurch reporting requirementsHousing allowanceBusiness-expense reimbursements Known as the most comprehensive, accurate yet easy-to-understand tax guide available for church leaders you will find yourself regularly referencing key topics, charts, sample forms, and real-life illustrations for all your tax and legal questions.