Most ministers will be better off reporting their federal income taxes as employees, since: - The value of various fringe benefits will be excludable including the oftentimes significant cost of employer-paid health insurance premiums for the minister and his or her dependents - The risk of an IRS audit is substantially lower - They avoid the additional taxes and penalties that often apply to self-employed ministers who are audited by the IRS and reclassified as employees -Taken from the 2006 Church & Clergy Tax Guide For more essential tax information check out our Related Products: 2007 Church & Clergy Tax Guide 2007 Church & Clergy Tax Guide on CD 2007 Church & Clergy Tax Guide Set |
