Designate your Housing exclusion amount for 2014

  Now is the time to secure your maximum tax benefit in 2014! Your church board or (denominational governing body or pension board for retired ministers) should adopt a parsonage or housing allowance for you in writing, and before the…

Take a LISTEN to this!

Now that the April 17 filing deadline tomorrow, we can all take a collective "whew!" and take a few moments to laugh a little. While driving yesterday, I heard this hilarious "Tax DJ" story on my Public Radio station, WFDD 88.5.  As a tax professional,…

Getting organized and looking forward

The beautiful, blessed, and busy Christmas season is now behind us and we move forward through season of Epiphany. People of faith recognize Epiphany as a festival in commemoration of Christ's birth; others understand "epiphany" to mean a sudden…

Virginia Earthquake casualty losses

Victims of the Virginia earthquake on August 23, 2011 may be eligible to receive tax relief on casualty losses due to the earthquake. President Obama has declared the counties of Culpeper, Fluvanna, Goochland, Louisa, Orange, Spotsylvania, and…

'Tis the season!

Mt. Vernon UMC, Danville, VAThis is perhaps the busiest season for clergy of all faiths, but remember to take time to attend to a few important tasks before the end of the calendar year. Your Accountable Reimbursement Plan Setting the designated…

It's that time again for Parsonage Allowance/Exclusion designations!

This time of year, churches are designating amounts which can be excluded by their clergy in the next year for a parsonage allowance. Some churches provide a house for the minister, in which case the minister is allowed to exclude from taxable…