Personal Finance for Clergy
Turn Your Financial Tower of Babel Into a Fortress of Strength
by
Book Cover & Preview Text
Some aspects of your finances that this book includes:
Ø Definition of Clergy
Ø How an Accountable Reimbursable Plan (ARP) can reduce your tax liability
Ø Definition of parsonage, how to calculate it, and the IRS requirements
Ø Summary sheet for preparing your taxes
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Ø How to ask congregants for donations
Ø Basics on setting up an endowment fund, proper usage of a discretionary fund
Ø Financial suggestions to offer congregants experiencing the loss of a loved one, or divorce
Ø Financial planning strategies to help you achieve your personal financial goal ; including how much you’ll need for and during retirement
Ø Pros and cons of different retirement options, investment choices and strategies
Ø Determining the types and amounts of insurance you should consider owning
Ø Charitable giving options
Ø What the IRS looks at during an audit
Ø How to protect yourself from identity theft
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Book Details
About the Book
Members of the clergy face unique tax rules that provide both advantages and potenially costly pitfalls. This book is written to help clergy of all denominations achieve a better understanding of their personal finances, tax responsibilities, and investment options. Written in non-jargon language, Personal Finance for Clergy will help you maximize your earning potential, minimize your tax liability, and protect your loved ones in a simple, easily referable style. , and protect your loved ones in a simple, easily referable style.
Members of the Clergy face unique tax rules that provide both advantages and potentially costly pitfalls. This book is written to help clergy of all denominations achieve a better understanding of their personal finances, tax responsibilities, and investment options. Written in non-jargon language, Personal Finance for Clergy will help you maximize your earning potential, minimize your tax liability, and protect your loved ones in a simple, easily referable style.
About the Author
Laurence Dresner is a Chartered Financial Consultant (ChFC), a designation conferred on individuals who have passed a rigorous series of comprehensive tests and maintain annual continuing education requirements. He has been a financial planner for over twelve years, and is a tax preparer and a registered investment advisor. His Web site address is ClergyPlanning.com.
Mr. Dresner has written articles for industry publications, local papers and Web sites, teaches adult education courses, and has given seminars at The Jewish Theological Seminary and The Academy for Jewish Religion. He has served as a board member on his temple’s Executive Committee, Board of Trustees, and is the investment manager for his temple’s endowment fund. Mr. Dresner is a member of Toastmasters International and several financial industry organizations, including the Financial Planning Association (FPA) and the National Association of Tax Professionals (NATP).
Prior to being a financial planner, Laurence was a music composer for theatre and cabaret in