Clergy 411

ETFS is an industry specialist in preparing clergy taxes and understands that clergy taxes are complex and impactful. ETFS has been committed to guiding each minister through the process of mastering the reality of your compensation for the services you perform daily.

Parsonage Allowance

Do you own a home? Do you own multiple homes? Are you renting? How much are your utilities and repairs? What does it take for you to provide a home? These questions are significant in the process of understanding your parsonage allowance.

KNOW THIS
The fair value of a parsonage or housing allowance is excludable from your federal taxable income.

ETFS focuses on becoming familiar with your unique situation to help you answer the questions above. With this understanding ETFS can guide you in the proper steps you must take to maximize tax benefits.

For a sample of a Parsonage Report Worksheet click HERE.

Social Security

Should you opt out of social security? Have you been paying the right amount of self-employment tax? Have you already applied for social security exemption? Do you know all of the consequences? Are you prepared to support medical and retirement benefits yourself? These are critical questions that must be answered as clergy.

ETFS wants to empower you to make the best decision regarding social security for your future. We understand that it is important for you to know the reality of your situation and responsibilities for your benefit.

Taxable Benefits

  • Housing Subsidy
  • Cell Phone Allowance
  • Tuition Subsidy
  • Spouse Travel

Checklist for Ministers

ETFS provides a Quick list of Deduction Documents for the a clergy clients

Here are few items you can find on the list:

  • Un-reimbursed Business Expenses
  • Books, Supplies, Sermon helps
  • Ministerial robe/cleaning
  • Business Cell/Fax

For the complete Checklist for Ministers click HERE.

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