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Remington O'Dell, CPA, 1115 Waters Edge Drive, Granbury, TX (2026)

08/11/2024

Clergy members have access to a variety of tax deductions and credits that can significantly reduce their tax liability. Understanding and utilizing these tax benefits is crucial for maximizing savings. As always, consulting with a tax professional familiar with the unique tax situations faced by clergy members is recommended to ensure all available tax breaks are properly claimed.

Clergy members can often face special rules and opportunities that can significantly impact their bottom line in the tax landscape. From health insurance to retirement contributions, understanding these tax breaks can make a substantial difference. Here’s a look at some of the key deductions and c...

08/10/2024

For many clergy members, the housing exclusion is one of the most significant tax benefits available. However, as with most things in the tax world, the details are where things get complicated.

For many clergy members, the housing exclusion is one of the most significant tax benefits available. The Internal Revenue Code (IRC) §107 provides a special exclusion that allows ministers to exclude the value of housing provided by their church or a designated housing allowance from their gross i...

08/09/2024

One of the most challenging aspects of clergy taxation is the fact that clergy members are treated as employees for federal income tax purposes but as self-employed for employment tax purposes.

Navigating the tax obligations of clergy members requires a thorough understanding of both F**A and SECA rules. By proactively addressing these issues, clergy members can ensure that they meet their tax obligations without any unwelcome surprises come tax time.

For clergy members, tax time can be particularly tricky due to the unique way their income is classified. Unlike typical employees or independent contractors, clergy members often find themselves straddling two worlds: they are considered employees for federal income tax purposes but self-employed f...

08/08/2024

Clergy members face some rather unique and sometimes complex issues related to federal income taxes. I've written 4 articles covering a general overview of the tax subject, payroll & self-employment tax, the housing exclusion and expenses & tax credits. Here's Part I and the rest will be posted of the next few days.

Understanding the Unique Taxation of Clergy Members: What You Need to KnowWhen it comes to federal income taxes, members of the clergy often find themselves in a unique position. The IRS recognizes the special role that clergy members play in their communities, but with that recognition comes a set....

07/25/2024

Have you ever heard the term "tipping" in relation to charities? It’s a crucial concept that can impact a nonprofit’s charitable status, especially when big donations are involved. Let’s break it down.

Have you ever heard the term "tipping" in relation to charities? It’s a crucial concept that can impact a nonprofit’s charitable status, especially when big donations are involved. Let’s break it down.What is Tipping?In the nonprofit world, "tipping" is when a charity no longer passes the publ...

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