“Top 10 questions that Ministers, Missionaries, and Church Treasurers Ask Tax Preparers”

October 14, 2014, 7:00 am

Corey Pfaffe, CPA, provides answers to those top 10 questions at MinistryCPA.

The questions, with links to each answer, can be found here.

You can download a superb 12 page PDF of the full set of answers here.

If you are a pastor, missionary, church treasurer, or on the finance staff of a charity, I recommend you check out Prof. Pfaffe’s superb explanations. Get professional advice to apply the information to your situation or if you need to go beyond the very straightforward answers.

There is a bonus question: Read the rest of this entry »

3 more Q&As on a church paying for services – do you see a pattern of answers saying payments are normally taxable and typically to an employee?

October 29, 2012, 7:00 am

If you do a bit of research on paying people being compensation or whether to treat them as employee or independent contractor, you will see an obvious trend in the discussions.  

If someone is providing services to your church and you pay them, there is usually going to be some taxable income.  It is fairly unusual for those services to be in the category of independent contractor.  

Corey Pfaffe has three more Q&A discussions posted at MinistryCPA blog.  All deal with whether amounts paid to a person for services are taxable and whether such payments should be reported on a W-2 as an employee or on a 1099 as an independent contractor: Read the rest of this entry »

Tax questions for religious NPOs and short answers

May 2, 2012, 6:52 am

The Federal Taxation class at Maranatha Baptist Bible College, led by Professor Corey Pfaffe, CPA, has begun writing short Q&As posts on tax issues of interest to church, religious NPOs, pastors, and missionaries.

You can find the comments at MinistryCPA.

Read the rest of this entry »