If you have kids, there’s a good chance that you received some money from the IRS in the last couple of days. It is a part of the American Rescue Plan legislation that was passed in March, an advanced payment…
A lot of letters and numbers are often thrown around in reference to retirement plans. What are they and what differences and similarities do they have?
This is a guest post by Paul McWilliams, an independent financial advisor with Inspire Advisors who specializes in helping organizations set up and administer retirement plans. In addition to his technical knowledge, Paul is also a pastor’s kid! Paul can…
This post is based on Dave Ramsey’s Financial Peace University and not his radio show. As such, it may not address everything that he has ever said publicly. Dave Ramsey is a polarizing figure. Honestly, though, anyone who dares to…
This post breaks down all of the major types of income a pastor can earn and explains how the IRS treats them for Social Security, income tax, retirement plan and payroll tax purposes. It is based on IRS Publication 517.
Like many all over the globe, pastors did a lot of work from home last year. Whether you already had a dedicated space or had to claim a corner of the dining room table, last year was the year of…
Any time you want tax-free housing! While that answer is true, here is an excerpt from my book, The Pastor’s Wallet Complete Guide to the Clergy Housing Allowance, that will provide a bit more depth: Timing Timing is very important…
About seven years ago, I decided I wanted to be able to help people with money. I had begun listening to Dave Ramsey to stave off the boredom of spending 12 hours a day alone with an infant and it…
A lot is said about the tax-deductibility of charitable contributions. After all, that is why your church went through the trouble of gaining 501(c)(3) status with the IRS. So that donors could get tax breaks. Not everyone gets a tax…
Every year, the federal government hands out money for free. However, one out of five people who are eligible doesn’t claim it. That sounds crazy, right? Who foregoes free money? And how can you be eligible to get it? For…