Thursday, November 29, 2012

Housing Allowance

The housing allowance is the single most IMPORTANT TAX BENEFIT available to ministers.  Do you understand the limits and FOLLOW ALL THE RULES to ensure the housing allowance is calculated correctly?  Do you know what RECORDS MUST BE KEPT to substantiate the cost of everything excluded from income as housing expenses?  Are you certain the allowance is PROPERLY DESIGNATED AND APPROVED by the “governing board” of the church?  If you have questions about the minister’s housing allowance provided in Section 107 of the Internal Revenue Code, do your research and enact legal policies new.

If we can assist you or consult with you, contact Synergy Ministries.  We are always looking out for you.

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