I’m Pastor Tom and this is my first year of ministry and I’m ready to quit!
I just had my first Tax return done and owe $5,000. I went into ministry wanting to help others and lead them to the Lord not to go in debt. No one ever explained to me how ministry affects my individual income tax return. I need help!
As a tax preparer I have heard this same story over and over because many ministers are not taught how to set up their pay package to pay the least amount of tax.
I want to take time today to explain what items are taxable and non-taxable on the Tax Return.
Learn more about taxable and non-taxable income.