There are a handful of reasons you may want to claim a parent as a dependent. But before you do that, you and your parent(s) must meet...

You generally cannot claim your girlfriend or boyfriend as a dependent on your tax return unless specific criteria are met. According to...

The Corporate Transparency Act (CTA), effective from January 1, 2024, mandates many small businesses to file a Beneficial Ownership...

1. Detailed Analysis Required : A thorough analysis of the market, competitors, and potential customer base is necessary, which can be...

The tax year 2024 adjustments generally apply to income tax returns filed in 2025. Key tax items for 2024 include the following dollar...

Events in life, such as buying a house, attending college, or experiencing job loss, could qualify you for specific tax advantages....

Hey there! So, the changes to tax filing deadlines in 2024 are all about making things smoother, more precise, and ensuring everyone...

Being financially prepared for retirement is simply a function of time and money. What is the biggest excuse ministers use when they...

There are three primary issues that churches and faith base in the area of compensating employees: Determining the appropriate level of...

Churches and Faith-based organizations are supported primarily from either contributions or revenue from activities directly related to...

A denomination typically files for group exemption to cover all local churches. A copy of the body's IRS determination letter may be...

Settling the biblical tone for financial accountability at the top. Biblical financial accountability starts with the ministry's board...

Ministers in denominational services, on church assignment, and in other service are the expenses meeting the IRS guidelines? This...

Denominations generally have a process for ordaining, licensing, or commissioning ministers. An individual serving in a denominational...

Covid-19 has brought medical care and it cost to the forefront. Rising premiums, increased co-pay, higher drug prices, and government...

Classification as a minister for tax purposes is very important. It determines how minister prepares federal tax returns for income and...

1. Relationship test: The child must be your son or daughter (natural, adopted, step and in some cases foster) or a descendant of your...

Under new regulations effective July 1, 2021, clergy and religious workers may now qualify for Public Service Loan Forgiveness (PSLF)....

The #1st Principles Communication with givers All statements about the use of a gift that an organization makes in its stewardship...

Non profit organizations receiving donations of virtual currency (such as bitcon) now have additional guidance from the IRS on donor...