We would be happy to assist you in developing a sound compensation plan that will both help you minimize your tax burden and comply with IRS rules.

 What We Provide

• Review of your current plan
• Development of a customized plan for your situation
• All Church Minute narrative and motions to implement the plan
• Forms and/or instructions as needed for administration of the plan
• Calculation of Estimated Tax Payments required by your plan

Our Fee For This Service is $125 (should be paid by the church)

Other Services

• Preparation of your tax return in the manner prescribed by IRS
• Preparation of W-2 Forms (special rules for ministers)
• Church payroll tax reporting where required
• For Oklahoma residents—Comprehensive Financial and Estate Planning

Required Information

• Name
• Address
• Telephone Numbers—Work Home
• E-Mail address
• Filing Status (Single, Married, Head of Household)
• Date of Birth for you and your spouse
• Name and date of birth of each Dependent Child for current year
• Name and relationship of other dependents
• A detailed list of the amount of each item of compensation and expense paid TO you or FOR you by the Church, and how often each is paid (weekly, monthly, ect.)
• Do you live in a Church provided parsonage? If so, what is the fair rental value of the home.
• A completed  Housing Allowance Checklist  estimating your housing costs for the current year.
• A detailed list of your estimated ministry expenses (Mileage, travel expenses, meals and entertainment, books, software, equipment, supplies and postage, etc.)
• A detailed itemization of other income for you and your spouse. The last pay stub with a note as to pay frequency will be helpful for secular wages.
• A copy of last year’s tax return.
• Do you have health insurance for the family? If so, who pays the premium and how much is it?
• Do you have a retirement plan?
• Do you have children that require daycare? How much do you pay?
• Does the Church have other employees? If so, list each position, the amount of pay and the number of hours worked each week, and how the church has been reporting their pay to IRS (W-2, 1099, or not at all)

 Just send the foregoing along with a check to

You may call me at 408/685-0829 or E-Mail  taxbusters@taxbusters.com

Tax and Financial Control Center

Shannon A. Raasch CPA