A common method for determining the fair rental value of clergy housing is using a fixed percentage, like 12%-15% of the current home value. However, this method may be inaccurate. The IRS and tax courts typically recommend using methods such as the comparable fair...
Clergy
Are Ministry Dues Deductible?
Ministry dues can qualify as a professional expense under the Internal Revenue Code if they meet certain criteria. According to the Internal Revenue Code and relevant regulations and rulings, the deductibility of such expenses depends on whether they are considered...
Can the board declare a housing allowance without a specific amount?
When your board declares your annual clergy housing allowance, they must declare a specific dollar amount or percent as the housing allowance. The designation must be made in advance of the payment. A general declaration that you have a housing allowance without...