When approached with purpose, Church budgeting becomes a powerful way to live out Biblical stewardship. In this webinar recording, CPA Steve Chaney and David Hodges walk through how to build a church budget that reflects your ministry’s values. From setting priorities to handling designated funds and reserves, they offer a simple, thoughtful approach to making financial decisions that support your mission. Resources: Budget Assessment Tool Bill Spend & Expense This video is a record...

Are you a pastor who opted out of Social Security? Many opt out of Social Security early in their ministry without fully understanding how it will impact their retirement. If you've opted out, what are your options now? In this episode, Tim and Steve walk through the steps pastors can take to plan for retirement, earn Social Security and Medicare credits, and ensure long-term financial security. Check your Social Security status https://www.ssa.gov/prepare/review-record-earnings About Us...

Pastors can opt out of Social Security and Medicare using IRS Form 4361—but should they? This decision affects taxes, retirement income, and healthcare benefits, yet many ministers don’t fully understand what they’re signing up for (or out of). In this episode, we explain how opting out works, who qualifies, and the long-term financial impact for pastors. Before you decide, make sure you understand the risks and benefits. About Us: For over 23 years, Chaney & Associates has partne...

Understanding clergy tax laws can be confusing, and getting it wrong can lead to costly mistakes. In this episode of the Church Advisory Podcast, hosts Tim Wilkins and Steve Chaney, CPA break down how church payroll, housing allowance, and self-employment taxes impact pastors and church staff. We’ll cover: Do pastors get a W-2 or a 1099? Understanding clergy tax classification. How pastors pay Social Security & Medicare taxes (and why it’s different from regular employees.) Common churc...

In this episode of the Church Advisory Podcast, we’re unpacking the essentials of the housing allowance for pastors—one of the most valuable financial benefits available to ministers. Whether you’re new to this topic or looking to refine your approach, this episode will help you: Understand the basics of housing allowance.Navigate the Three-Pronged Test with confidence.Calculate housing allowance using practical examples.Avoid costly tax mistakes and pitfalls.Take actionable steps to make the...