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The Bookkeeping with a Purpose Podcast- Bookkeeping, Christian Entrepreneur, Church finances, Clergy Taxes, Minister payroll, Biblical mindset,
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Ep 59 ~ Understanding Federal Taxes for Ministers and Churches
Manage episode 403637333 series 3453775
Innehåll tillhandahållet av Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Michelle R Brown, EA, Christian Business Mentor, Enrolled Agent, Michelle R Brown, EA, Christian Business Mentor, and Enrolled Agent eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
Segment 1: Tax Realities
- Ministers Pay Taxes: Dispelling myths.
- Legal Truth: Courts reject tax exemption claims.
- Cautionary Note: Risks of tax evasion.
Segment 2: Ministerial Taxes 101
- Tax Status: Ministers are self-employed.
- Who's Qualified: Active licensed, ordained, or commissioned ministers.
- Tax Responsibilities: Pay taxes through withholding or estimated payments.
Segment 3: Compliance & Penalties
- Filing Rules: Ministers must file if earning over $400.
- Accuracy Matters: Penalties for wrong tax reporting.
- Get Help: Advising professional tax assistance.
Segment 4: Church Payroll Taxes
- Get FEIN: Federal Employer Identification Number is essential.
- How to Get FEIN: Fill Form SS-4.
- EFTPS Registration: Needed for tax payments.
Segment 5: Payroll Tax Basics
- Federal Income Tax
- Medicare Tax
- Social Security Tax
- Unemployment Taxes for Churches.
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