Ep 59 ~ Understanding Federal Taxes For Ministers And Churches The Church Finance & Minister Tax Podcast- Church Finances, Minister Taxes, Minister Payroll, IRS Compliance podcast

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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