housing expenses

How a Housing Allowance Works on Minister Taxes

Ministers provide an array of services for members of their churches as well as for their communities. Many believe that ministers are under-compensated for the selfless work that they provide and as a result the IRS has given clergymen certain tax-exempt benefits on their taxes including a tax-exempt housing allowance. All expenses for housing including furniture and maintenance can be legally deducted as long as ministers plan accordingly in advance and provide the IRS with detailed and adequate record-keeping. And while minister taxes allow for a housing allowance that is exempt from federal and state income taxes, it is still… Continue reading