Did your church not meet this past weekend? Don’t forget to give! We talk about that and answer a minister’s question about housing allowing on this episode. Let’s go!
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Money Questions:
- My understanding is that this is just a designation stating that I am able to claim up to a certain amount annually to cover housing expenses. At tax time, I am able to exclude that amount (or actual expenses, whichever is less) from my taxable income. It is not compensation separate from my income.
- However, my pay stub is actually showing it as a separate line item: each paycheck is partially my salary and partially housing allowance, as though it was from two different sources. They have dived my total designated housing allowance by 24 paychecks and are “paying” me that each pay period. Is this a problem? If so, how should it be instead? I’d like to avoid any IRS issues, and if they are doing this incorrectly I’d like to have them change it as soon as possible.
Recommended resource: Housing Allowance for Ministers: Made Easy
Money Challenge:
Don’t forget to give to your church during these times. Go ahead and set up automatic withdrawal on your church’s online giving platform. God still wants us to make giving a priority, to do it proportionately, sacrificially, and cheerfully, whether our church is meeting or not.
