Clergy Taxation Self-Study
The Tax Code has unique provisions related to clergy and how they report income, expenses and credits. This course covers the basics of properly preparing clergy and minister returns. You’ll also learn about compensation, fringe benefits, accountable plans and payroll taxes from the perspective of the clergyperson or church as an employer.
Upon completion of this course, you will be able to:
- Identify who qualifies for special tax treatment as clergy
- Analyze the dual-status nature of clergy
- Identify clergy compensation, including fringe benefits and love gifts
- Categorize valid expenses for clergy
- Calculate the nondeductible portion of business expenses based on tax-free income
- List the requirements for the clergy housing allowance
- Identify the unique treatment of employment taxes by churches
- Identify what income is subject to self-employment tax
- Differentiate between Form 4361, Application for Exemption From Self-Employment Tax for Use By Ministers, Members of Religious Orders and Christian Science Practitioners, and Form 4029, Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits
- Identify earned income for the purposes of the earned income credit and refundable child tax credit
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.