Church Advisory Podcast

Build a Better Church Budget With Biblical Stewardship in Mind

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 [https://go.chaneyassociates.com/churchbudgetassessment] Bill Spend & Expense [https://go.chaneyassociates.com/billsetup] This video is a recording from our recent live webinar, "The Stewardship Blueprint: A Church Budget That Works for You." If you’d like to join future events like this and get access to tools we don’t always share publicly, make sure you’re subscribed to our email list. Subscribe Here! [https://go.chaneyassociates.com/newsletter]

Retirement Planning for Pastors Who’ve Opted Out of Social Security

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: For over 23 years, Chaney & Associates has partnered with churches across the country, providing accounting, payroll, and financial guidance tailored to ministry needs. As trusted ministry advisors, we’re passionate about equipping churches to manage their resources effectively and expand their mission. https://chaneyassociates.com/ DISCLAIMER: This podcast is for informational purposes only and is not a substitute for professional advice. Always consult your CPA or legal advisor before making financial decisions.

Should Pastors Opt Out of Social Security and Medicare?

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 partnered with churches across the country, providing accounting, payroll, and financial guidance tailored to ministry needs. As trusted ministry advisors, we’re passionate about equipping churches to manage their resources effectively and expand their mission. https://chaneyassociates.com/ DISCLAIMER: This podcast is for informational purposes only and is not a substitute for professional advice. Always consult your CPA or legal advisor before making financial decisions.

Church Payroll 101: The Right (and Wrong) Way to Pay Pastors

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 church payroll mistakes that can cost pastors thousands in unexpected taxes. How housing allowance affects a minister’s tax liability. Why rent-free doesn’t mean tax-free – the hidden costs of parsonage benefits. Church payroll best practices to ensure compliance and protect pastors from tax surprises. If you're a pastor, church administrator, or financial decision-maker, this episode provides practical guidance on church payroll compliance, clergy tax planning, and pastoral compensation best practices. About Us: For over 23 years, Chaney & Associates has partnered with churches across the country, providing accounting, payroll, and financial guidance tailored to ministry needs. As trusted ministry advisors, we’re passionate about equipping churches to manage their resources effectively and expand their mission. DISCLAIMER: This podcast is for informational purposes only and is not a substitute for professional advice. Always consult your CPA or legal advisor before making financial decisions.

Housing Allowance for Pastors

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 most of this benefit. We’d love to hear from you! If you have questions about housing allowance or other church finance topics, email us at admin@chaneyassociates.com or visit our website at www.chaneyassociates.com. Your question could even be featured in a future episode! About Us: For over 23 years, Chaney & Associates has partnered with churches across the country, providing accounting, payroll, and financial guidance tailored to ministry needs. As trusted ministry advisors, we’re passionate about equipping churches to manage their resources effectively and expand their mission. DISCLAIMER: This podcast is for informational purposes only and is not a substitute for professional advice. Always consult your CPA or legal advisor before making financial decisions.