Ministers Beware:Your tax situation should not be trusted with just anyone.
Preparing your own income tax return can be a
task that leaves you with more questions than answers. According to a
study released by the US Government's General Accounting Office last
year, most taxpayers (77% of 71 million taxpayers) believe they
benefited from using a professional tax preparer. The percentage could
even be higher concerning ministerial tax returns. Ministerial Tax
preparation rank among the most complex of all. There are many special
rules, and circumstances that are different from other occupations.
There are libraries of books available to assist in this specific area.
Whether we like it or not, today's tax laws are
so complicated that filing a relatively simple return can be confusing.
Ministers do not fall in that easy category for most. It is just too
easy to overlook deductions and credits to which you are
entitled. Even if you use a computer software program there's no
substitute for the assistance of an experienced tax professional. Many
over the counter computer tax programs do not handle ministerial tax
returns properly unless a person knows how to manipulate certain
fields. This is very risky if you are not familiar with the tax laws.
Computer programs do not know how to recognize when a W-2 is filled out
incorrectly. Our firm has noticed that an alarming high percentage of
Ministerial W-2's are prepared incorrectly. This is a very costly
mistake for the church and in many cases it costs the minister
additional taxes. This is where we can help. IRS Publication 517 will
give guidance on filling W-2's out for ministers.
W-2 HINT:
If you are an Ordained, Licensed, or Commissioned minister,
(evangelist,pastor, missionary,teacher) and you perform normal
sacradotal duties, and if you have numbers in boxes 3,4,5,or 6, your
W-2 may be filled out wrong. In most cases we can fix these to the
ministers advantage. Contact us to see how. Also, there should be the
housing allowance and other benefits stated in box 14. The housing
allowance should not be included in Box #1.
Here's what you get...
Your tax return will be checked and rechecked by
our specially designed computer tax software. Identifying potential
problems the IRS may look at more closely and reviewing the math to
limit IRS contacts. In addition we have specially trained ministerial
CPA's recheck the return to assure its accuracy and verify the maximum
amount of deductions were taken and the liability is at its minimum.
There are many ways to file a return, but we know how to maximize the
benefits. We work for our clients and want to see them maximize their refunds.
Your tax return can be filed electronically so you will get a
refund back quicker. We can also do this for out of state or country
clients as well. We also file all states electronically as well. There are no additional fees to electronically file when applicable.
Our staff can show you how to adjust your payroll withholding to
get more money back each week. Why give the IRS an interest free loan
for up to 16 months?
We will show you potential deductions to limit your tax liability
for next year. Explain how the housing allowance works, accountable
expense plans, and other ministerial benefits.
NOTE:No
matter where you live, we can prepare your tax return. Our company
works with the leading edge technology to be able to prepare and file
your tax return all across the World. Call or email us for more
information.
Books a Mess: No Problem!
Many ministers own their own side business or have rental property:
If
you haven't kept up your bookkeeping, don't worry. We can help you.
We'll prepare your bookkeeping for the year, prepare a full Schedule C,
as well as your personal income tax return. Then we'll help you set up
an easy system that allows you to keep your books in tip-top shape next
year.
If you'd like to receive more information about our Tax Preparation Service, please complete this form.
Tax Preparation