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Discussion in 'Pastoral Ministries' started by Trapper, Jan 31, 2005.
Any recommendations on a simply to use tax software for ministers?
I used TaxACt last year. ONe of the ones I tried (TurboTax I think) would do minister's tax situations.
I use Tax Cut, works great; I have also used Turbotax. Tax cut is cheaper since you will need premium instead of basic
All of them are free if you file online and link from the IRS website.
Check the thread I started in the General Discussion forum.
Can I use turbo tax as a self employed pastor having a housing allowance
Steve, Please explain how you are a self-employed pastor and have a housing allowance.???
I pay into my own social security and I am given a housing allowance that is tax deductable
Sorry, but I don't see the thread. Could you provide the link?
Yes, either Turbo tax or Taxcut will work. You will need the deluxe or premier edition though. I too file as a self-employed minister. Either product will cover it quite thoroughly.
I guess I need to be more specific.
Do you file your income from ministry on Form C or do you receive a W-2 from your church?
I receive a w-2
So do I. I report my W-2 income on my 1040 and my revival income and other income derived from personal ministry not connected to the church on my form C.
Thanks for all the help. I think I will pick up the Turbo Tax or Tax Cut soft ware deluxe or premier edition and do my tax's this year
Whatever software you use is deductible as a tax preparation expnese, I believe.
you are not self-employed unless you receive a 1099. If you get a W-2 (and if you are a pastor you must get a W-2) then you are an employee of the Church for all tax reasons EXCEPT the SECA treats you as if you were self employed. I say this because I see too many pastors file their 1040 as being self employed.
I suggest you use turbo tax. It seems to give me the least headache concerning getting the EIC and additional child tax credits (something many of the tax software programs do not always add up properly when you are a minister).
Sorry, guys. I didn't see the request until now.