The Shepherd's Wallet Podcast

Tax season is stressful for everyone. For pastors, it's a different kind of stress — because your tax situation is genuinely unlike anyone else's. In this special episode, I'm sharing the audio from my recent live tax webinar, where I walked pastors through the clergy-specific tax issues that trip up even experienced CPAs: housing allowance optimization, dual tax status, self-employmen...

In this episode, I highlight a SECA tax deduction that's been legitimate IRS policy since 1980 - but has the potential to fall through the cracks for ministers. Pastors can still deduct unreimbursed ministry expenses when calculating self-employment tax, even after TCJA eliminated those deductions for income tax purposes. I also break down exactly how the deduction works, what expenses qualify...

Should pastors take sabbaticals? It seems like a simple question—but it's sparked heated debate in ministry circles. Some pastors feel guilty taking extended rest when their congregants don't get the same benefit. Others argue that sabbaticals are just poor boundary-setting dressed up in spiritual language. In this episode, Seth pushes back on both objections. He makes the case that pastor...

It's December, and lots of financial professionals are talking with their clients about Roth conversions—but is that the best strategy for pastors? In this episode, we break down the "Super-Roth" concept: how your church 403(b) combined with housing allowance in retirement can actually beat a traditional Roth in terms of pure tax efficiency. But there's a catch (there's alway...

Most CPAs who make errors with clergy tax returns aren't failing pastors out of incompetence—they're failing because the system never equipped them to succeed. In this episode, I walk through what clergy taxation looks like from a tax preparer's perspective, the proactive questions they'd need to ask (but probably won't), and a spectrum of responses if you suspect your preparer...

Listen in as I make the case to your church board for investing in your financial wellness. In this unique episode, I speak directly to church board members about why caring for their pastor's financial health isn't just compassionate – it's good stewardship. Pastors, this is designed for you to share with that "person of peace" on your board who could champion these changes....

What if a single conversation could save you $1,500 every year for the rest of your ministry? In this tactical episode, we walk through exactly how to ask your board for a SECA offset: the game-changing compensation adjustment that transforms pastors' tax disadvantage into an advantage. You'll get word-for-word scripts for: Making your initial request Handling the top 5 objections (includi...

Ever felt guilty keeping a receipt from a ministry lunch? Like somehow you're being "too worldly", or taking away from the earnestness of your ministry? You're not alone. Many pastors struggle with the tension between faithful ministry and financial wisdom, often to their family's detriment. In this episode, we dismantle the false guilt around expense tracking and reveals why...

Every parsonage pastor knows the sinking feeling: "Everyone else is building equity except me." Today, I'm going to sit with you in that feeling—then show you why it's based on a lie. I've developed a simple strategy just for parsonage pastors that has the potential to build wealth faster than any mortgage ever could—all it takes is a mindset shift! Resources mentioned: 📝 Full Article: https://ww...

Think your housing allowance is free money? Think again. In this eye-opening episode, I reveal why treating your housing allowance like a spending target instead of a tax benefit could be sabotaging your financial future. We'll explore: Why the "maximize at all costs" mentality is backwards The simple math that changes everything (hint: 12% off isn't free) The biblical perspectiv...

Your church board suggests reducing your salary to save on taxes. It sounds brilliant—lower salary means lower SECA taxes, right? Wrong. In this episode, we expose why voluntary salary reduction arrangements violate IRS constructive receipt rules and could trigger audits, penalties, and financial chaos. Learn what the tax authorities actually say, and discover legitimate alternatives that provide...

If you signed Form 4361 and opted out of Social Security, you can't undo that decision. But you CAN build real financial security with the right plan. This episode walks opted-out pastors through four essential steps to replace the benefits you gave up: Qualifying for Medicare through secular work, Saving and investing aggressively, Getting disability insurance, and Building a healthcare savin...

Are you accidentally paying your bank thousands in interest just to save a few hundred in taxes? In this live Q&A excerpt, I walk through my mortgage refinance calculator designed specifically for pastors and show you exactly how to compare three scenarios:✅ Keep your existing mortgage✅ Refinance to new terms✅ Pay off aggressively KEY TAKEAWAYS: Keeping your mortgage only saves money under...

Professional tax prep costs $500+ and many CPAs still get minister taxes wrong. Filing yourself? I've never seen a self-prepared pastor return without major errors. There has to be a better way. In this video, I break down the 5 most costly mistakes I see in both professional AND self-filed pastor returns - from church payroll disasters to housing allowance confusion to SECA tax miscalculation...

Ever preached about stewardship then came home worried about your own financial reality? You're not alone. The #1 thing keeping pastors from financial security isn't lack of money—it's guilt. In this episode, I address the toxic theology that makes pastors feel guilty about pursuing financial wisdom, and introduce the 5-10-15 Rule—a simple framework designed specifically for pastoral f...

Missing thousands in housing allowance benefits? You're not alone. In this live demonstration, I walk through my housing allowance optimization tool using real pastor scenarios. Watch as we uncover hidden qualifying expenses most pastors miss and see exactly how proper housing allowance planning can save $2,000-$5,000+ annually.🎯 WHAT YOU'LL LEARN:✅ Step-by-step housing allowance calcula...

IMPORTANT UPDATE: This video mentions strategic 1099 arrangements with the pastor’s church for non-ministerial duties as a potential way to access expense deduction capabilities from church income. However, this strategy is NOT recommended as it puts pastors at increased audit risk and could lead to potential reclassification, back taxes, and/or penalties. Schedule C deductions can be used for ind...

Pastor Appreciation Day is October 12th, and this year I want to do more than just say "thank you." I'm giving away up to three Pastor Spotlight Scholarships - and YOU get to nominate your pastor. Each winner receives:✅ 90-minute Financial Quick Start session✅ Advance copy of "Shepherding Your Finances"✅ 3 months free community membership✅ Featured podcast interviewKnow...

Most expense tracking systems fail because they're too complicated for busy ministry life. The Sharpie Strategy changes that. In this episode, you'll discover a dead-simple method busy pastors can use to track their housing allowance expenses - a system that takes 15 minutes to set up and runs on autopilot. You'll learn: The hidden dangers of poor record-keeping The Sharpie Strategy (it's not what...