Complimentary Pastoral Services

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CFAA desires to support pastors in being the “Model Steward” for their congregations by offering the following free services…

  1. Annual symposium for pastors teaching on the “Model Steward”.
  2. Complimentary personal financial consulting - advice on creating a secure financial future for your family based on God's Word.
  3. Free tax services for pastors tax returns.
  4. Webinars and Biblical stewardship training.

Why offer free tax return services for pastors?  Because their taxes are different and require special attention.  Many questions must be addressed like: 

  1. How should the salary and benefit package be structured for the most tax advantages?
  2. How should business expenses be handled? 
  3. Should the church reimburse the pastor for his business expenses rather than him claiming them on his tax returns?  If so, how should the church set up an expense reimbursement account?
  4. Which expenses are considered reimbursable business expenses and what is required to substantiate them? 
  5. How should travel and entertainment expenses be handled? 
  6. What are and can be considered business gifts? 
  7. How should unrelated business income be handled?
  8. What are the pastors record keeping responsibilities for designated contributions, self-employment taxes, w-2 wage and tax statements, etc?
  9. How should the housing allowance be handled?  Should it affect the pastor’s paycheck? How does the fair market rental value affect the allowance? What expenses can and cannot be included?  How should the pastor estimate his housing expenses?  Who keeps track of the allowance and how should it be reported to the IRS?
  10. Transportation? What are considered commuting miles verses business miles?
  11. Entertainment and meals? Are the cost of meals when entertaining out-of-town ministry guests (visiting missionary, evangelist, etc.) deductible?   Most ministers provide substantial entertaining in their home, how much can be deducted? 
  12. What’s the best way to set up a retirement fund for a pastor?  Should the church help fund the retirement plan? Is the 403-b family of plans the most advantageous of retirement plans for pastors? Should a pastor consider using a Roth IRA?

These are just a few of the many questions that pastors and churches must think about when considering the pastor's taxes and what is the most advantageous ways to handle them. CFAA’s affiliated CPA’s and bookkeepers will be trained by experienced specialist who only do pastors tax returns with many years of experience.

For more information about the complexities of pastors tax returns as well the answers to many of the above questions go to www.ssfoundation.net or call the CFAA Headquarters toll free at 877.718.7884

 

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