Housing Allowance for Ministers

Housing Allowance is a substantial tax benefit provided by Section 107 of the Internal Revenue Code to qualifying ministers.  Ministers can exclude the fair market rental value of their home from gross income for income tax purposes.  This includes furnishings, utilities, and other items needed to maintain the home. This privilege has been challenged a [...]

By |2019-11-08T17:14:36+00:00November 8th, 2019|Church Finance, Church Governance|Comments Off on Housing Allowance for Ministers

Why Your Pastor Needs An Accountable Reimbursement Plan

Over the years I have come across churches who provide their pastor(s) with monthly payments for continuing education, car use, and professional expenses.  The way it works is that the church pays these amounts to their pastor and the amount paid is added to the pastor’s w-2 as taxable income.  Then, the pastor deducts the [...]

By |2018-05-19T04:42:03+00:00May 18th, 2018|Church Finance|Comments Off on Why Your Pastor Needs An Accountable Reimbursement Plan

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