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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Church and Minister Taxation (CMT)

8-Hour Program

WHY ATTEND THIS COURSE?

Even though churches are tax exempt and generally pay no income tax, churches are not outside the reach of the IRS. Churches are responsible for correctly reporting payroll, understanding the rules for charitable contributions, recognizing unrelated business income, and filing the appropriate returns. The tax rules for ministers are complex and often controversial. In order for ministers to file accurate and complete tax returns, an understanding of these rules is necessary.

DESIGNED FOR...

CPAs in public practice or serving as church treasurers or financial administrators.

OBJECTIVE

Participants will be able to:

  • Review the tax-exempt status of churches
  • Apply the rules for reporting payroll including housing allowances, social security for ministers, employee expense reimbursements, retirement plans, and fringe benefits
  • Explain the rules that apply to charitable contributions
  • Explain the concept of unrelated business income and when it applies to churches
  • Apply IRS rules that define a “minister of the gospel”
  • Clarify the rules regarding parsonages and minister’s housing allowance
  • Discuss the exemption of ministers from social security

MAJOR SUBJECTS

  • Tax-exempt status for churches
  • Payroll taxes and reporting requirements
  • Charitable contributions
  • Unrelated business income
  • Fringe benefits and employee expenses
  • Who the IRS considers a minister
  • Parsonages and housing allowances
  • Minister expenses
  • Social security for ministers

COURSE ACRONYM: CMT

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Taxes

RECOMMENDED CPE CREDIT: 8 hours


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.