Kingdom Impact 5 - Powered By Clergy Financial Resources

To Learn More About Our Tax Preparation Services: https://www.clergyfinancial.com/services/clergy-tax-preparation/Since 1980, Clergy Financial Resources has been the trusted leader in providing specialized tax, payroll, bookkeeping, and HR solutions exclusively for clergy and religious organizations. Our deep expertise in clergy tax law, compensation structures, and compliance sets us apart in a field where precision and understanding are essential. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

To Learn More About Our Serviceshttps://www.clergyfinancial.com/Since 1980, Clergy Financial Resources has been the trusted leader in providing specialized tax, payroll, bookkeeping, and HR solutions exclusively for clergy and religious organizations. Our deep expertise in clergy tax law, compensation structures, and compliance sets us apart in a field where precision and understanding are essential. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

Learn simple rules to stay compliant, avoid IRS surprises, and free up time for what matters most: your Kingdom work.To Learn More About Our Services https://www.clergyfinancial.com/Since 1980, Clergy Financial Resources has been the trusted leader in providing specialized tax, payroll, bookkeeping, and HR solutions exclusively for clergy and religious organizations. Our deep expertise in clergy tax law, compensation structures, and compliance sets us apart in a field where precision and understanding are essential. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

To Learn More About Our Services https://www.clergyfinancial.com/Since 1980, Clergy Financial Resources has been the trusted leader in providing specialized tax, payroll, bookkeeping, and HR solutions exclusively for clergy and religious organizations. Our deep expertise in clergy tax law, compensation structures, and compliance sets us apart in a field where precision and understanding are essential. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

To Learn More About Our Serviceshttps://www.clergyfinancial.com/Since 1980, Clergy Financial Resources has been the trusted leader in providing specialized tax, payroll, bookkeeping, and HR solutions exclusively for clergy and religious organizations. Our deep expertise in clergy tax law, compensation structures, and compliance sets us apart in a field where precision and understanding are essential. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

In this episode, we unpack one of the most confusing aspects of clergy taxation: employment status. Are ministers employees, self-employed, or somehow both? We break down the IRS’s dual-status classification, explain who qualifies, and clarify why some clergy get W-2s while others receive 1099s. Whether you’re a senior pastor, interim minister, or guest speaker, understanding your tax identity is key to staying compliant and maximizing your benefits. Tune in for practical insights, real-world examples, and tips to navigate the unique world of clergy compensation. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

Big changes are coming for Minnesota employers in 2026! Paid Leave MN is set to launch, giving workers paid time off for major life events but churches aren’t exempt. In this episode, we break down what this means for your payroll, how the new tax works, and what steps you need to take now to stay compliant. Whether you’re a church leader or handle payroll, this is your go-to guide for navigating Paid Leave MN without the headaches. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

The IRS has a three-part reality check waiting for you. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

The dual-tax status of clergy has a big impact on how your church’s payroll should be setup. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

While the W-4 is a familiar tool for income tax withholding, it doesn’t play well with the unique tax treatment of ministers—especially when housing allowance and self-employment tax come into play. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

Designating a housing allowance might sound complicated, but it really just takes a little planning and one key phrase to keep things running smoothly. Whether it’s through a board motion or a simple form, making it official each year helps your pastor and your payroll stay on the right track. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

The last time 1099 reporting requirements were updated was in 1982. That’s changing in 2026. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

The OB3 offers big news for working families in Tax Year 2026! Starting in tax year 2026, families will finally see a long-overdue increase in the Dependent Care Flexible Spending Account limit. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

Starting in 2025, the One Big Beautiful Bill Act introduces a major tax break for hourly workers: no federal income tax on qualified overtime pay and tips—up to $12,500 and $25,000 respectively. But before you celebrate, theses are the key details you need to understand. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

Big changes are coming to charitable giving rules in 2026—and we’re breaking them down in under 5 minutes. Whether you itemize or take the standard deduction, the One Big Beautiful Bill Act will impact you. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

In this episode, we unpack who is considered “clergy” for tax purposes. Ultimately, the answer to that question will determine if they are allowed to claim a housing allowance. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com

In this kickoff episode, we introduce what you can expect from our quick, high-impact podcast designed specifically for churches and ministries. In under 5 minutes, we’ll break down essential topics—from IRS regulations and payroll best practices to bookkeeping tips and tax law updates. Our goal? To help your ministry stay compliant, confident, and financially strong—without the overwhelm. Whether you're a pastor, treasurer, or admin, this podcast is your go-to resource for staying informed and empowered. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com