Tax Tips for Pastors and Missionaries

Tax Tips for Pastors and Missionaries

Tax Cuts and Job Act of 2017: What Does It Mean for Clergy and Missionaries? A brief summary on the TCJA and how it might affect your ministry budget and your personal tax returns as a pastor or missionary. Did you relocate to a new congregation in 2019? The IRS no...
What is “RITA Tax”

What is “RITA Tax”

If you recently moved to Ohio, you may have heard a neighbor lament about the “RITA Tax.” But what is the “RITA Tax?” You may be surprised to learn that the “RITA Tax” does not exist. RITA, simply put, is a method that some Ohio municipalities use to collect taxes....
Business Startup Costs

Business Startup Costs

If you started a business in 2019, the IRS will allow you to deduct up to $5000 of your start-up costs when you file your first tax return. Generally speaking, start-up costs are those expenses incurred while investigating, creating, or engaging in for-profit...
Taking the Foreign Income Exclusion

Taking the Foreign Income Exclusion

Taking the Foreign Earned Income Exclusion in 2019 Every week or so during tax season, I receive an email from an American citizen living abroad that goes something like this: “I was told I didn’t have to file US taxes while living in [Thailand]. I...