THE CLERGY TAX TRAP pdf version
Rev. John W. Asbury owes a lot of money to the IRS. Too many ministers, like Pastor John, have begun a promising career only to face an unexpected financial crisis courtesy of the Internal Revenue Code. Unprepared for the unusual way the IRS taxes ministers, clergy owe a significant amount when they file their first tax return. Ministers with inadequate knowledge of these tax rules face this difficulty throughout their career. The unique and contradictory nature of tax regulations related to ministers has resulted in a confusing paradox of compliance policies. This has led to misinformation and inaccuracy even among tax professionals. This book is offered as a guide to help ministers and their church leaders avoid the Clergy Tax Trap. 172 pages featuring:
· 9 Keys to THE CLERGY TAX TRAP for ministers and church leaders
· 12 Tax-Saving Strategies
with complete glossary of terms, bibliography, and index.
FOR TAX PROFESSIONALS WITH CLERGY CLIENTS: a primer on these unique, confusing, and contradictory regulations, including:
· Dual tax status
· The clergy housing allowance
· The Deason Rule limitation on deductible ministerial expenses
· Qualification as minister for tax purposes
· Application for exemption from self-employment tax
and more.
Reviews
Bill Davidson has taken one of the most confusing areas of the tax code and explained it in a way that is both clear and engaging. The real-life examples, practical checklists, and tax-saving strategies make this much more than just a tax book—it’s a guide that can help pastors avoid costly mistakes and plan wisely for the future. What sets this book apart is is the author’s unique perspective as both an experiencedminister and an IRS Enrolled Agent. He understands the challenges clergy face.
Clergy taxes are incredibly confusing for both the newcomer and seasoned. Bill Davidson has given clergy a gift with an easy to understand guide to the complicated world of clergy taxes. This is a book that both pastors and their boards should study together so everybody knows what the expectations are. It is practical, with examples and tips all through the book, and the glossary of terms is especially helpful. If I had this book earlier in my ministry it may have saved me some missteps.
"Bill has written a book that should be read by all ministers as well as church treasurers. I can't tell you how many new ministers have come to me owing thousands of dollars because neither they nor their church understood how the tax code works for ministers. I highly recommend this book, especially for ministers beginning their first pastorate or coming from a foreign country with no knowledge of our tax code."
The Reverend David R. Tanner, EA
Founder of Clergy Tax Team
With The Clergy Tax Trap, Bill Davidson has given clergy and church leaders a gift for navigating the perpetually obscure field of clergy taxes. With clarity, timeliness, and a wee bit of winsomeness, he has laid out the landscape and a path through it. This is a practical guide that I will be recommending,
—Rev. Alex Joyner, contributing author to Saving Grace: A Guide to Financial Well-Being
Presented with refreshing clarity, with many easy to follow examples, this book provides helpful information for both clergy and church leaders in The United Methodist Church who want to avoid costly mistakes while ensuring compliance with all relevant tax requirements.