Browsing Category Housing

The following is an excerpt from my book, The Pastor’s Wallet Complete Guide to the Clergy Housing Allowance: The IRS says it’s still possible to claim a housing allowance even after you retire and stop receiving a paycheck. Unfortunately, there is no clear law or hard and fast rules about this. There is little guidance and not a lot of certainty, so what we do know is cobbled together from various Revenue Rulings issued by the IRS.  Even in retirement, the rules ...

https://youtu.be/qOU7x0PEA1I Additional principal payments are qualified expenses for the clergy housing allowance, but they are subject to limitations.

https://youtu.be/rxAM8VRzFlI Does the way you pay your taxes affect your ability to claim a housing allowance? What determines if you can claim a housing allowance or have to pay self-employment taxes? Do you have to pay taxes on the housing allowance?

https://youtu.be/HS-v_wlFMVY Can money in a 403(b) be claimed as a housing allowance in retirement for someone living in a life care facility where the cost includes meals and medical care? How should that situation be handled?

https://youtu.be/hfVcZtotFAk Do cell phones qualify for the clergy housing allowance? If not, is there any way for a church to cover the cost for their pastor?

https://youtu.be/AU-lyT_PoyA A look at how the clergy housing allowance works and why you can still claim it even without a mortgage.

https://youtu.be/zJAcMvgZBpc Here's a step-by-step description of how to set a housing allowance for a pastor, what needs to be done throughout the year, how to report it to the IRS, and what to do if you have excess housing allowance.

This is a guest post by Chris Cagle, author of RetirementStewardship.com and The Minister's Retirement book. I recently published a book review on his book and it got such a good reception that I asked him to write something specifically for you. In my book, The Minister’s Retirement, I address many of the fundamental questions that pastors have about planning for, and living in, retirement. Wise planning involves making decisions consistent with biblical stewardship principles and implemented using wisdom and practical ...

https://youtu.be/WiXnvxb1uCA In today's video, Amy answers a question from a Pastor's Wallet reader who recently moved and wants to know if they can change their housing allowance after it has already been set by the elders.

Any time you want tax-free housing! While that answer is true, here is an excerpt from my book, The Pastor’s Wallet Complete Guide to the Clergy Housing Allowance, that will provide a bit more depth:  Timing Timing is very important when it comes to the housing allowance. A housing allowance can only be paid prospectively, not retroactively. That means you cannot go back in time. You can only take a housing allowance after it has been designated; any expenses incurred prior to the ...