Preparing taxes for clergy can be quirky—if you serve clients who are members of the clergy, this is the course for you! How a member of the clergy reports income, expenses and credits is unique compared to a typical individual tax return. In this webinar, you’ll learn how to determine who is considered clergy, how to determine and report clergy income and how to properly report their housing allowance.
Upon completion of this course, you will be able to:
- Determine whether a taxpayer is considered a member of the clergy.
- Identify various potential sources of clergy members’ income.
- Correctly allocate expenses among the various sources of clergy income.
- Describe the potential tax impact of housing allowances.
- Determine the tax impact of electing out of self-employment tax.
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Q&A transcript. CPE is issued after exam is successfully completed.
Marilyn Meredith, EA