The 2012 Church & Clergy Tax Guide by nonprofit tax expert, Richard Hammar, J.D., LL.M., CPA, releases this month. This annually updated, exhaustive tax reference includes key developments from the past year. Here are five developments Hammar highlights in this book that you’ll want to find out more about:
A new constitutional challenge to the parsonage exclusion and housing allowance benefits enjoyed by clergy has been filed in Wisconsin.
— Some key tax benefits were adjusted for inflation in 2011.
— The IRS increased the standard business mileage rates for the second half of 2011.
— The Tax Relief Act extended several provisions that affect clergy and church staff.
–The health reform legislation makes several changes to flexible spending arrangements under cafeteria plans.
For comprehensive details on these and more 2011 changes, see the 2012 Church & Clergy Tax Guide, by Richard Hammar.
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