Anyone know how to setup a paycheck showing Housing Allowance in Quicken?

I am using 2013 Quicken Premier. Unfortunately, Intuit/quicken help and forum is no help.

Comments for Anyone know how to setup a paycheck showing Housing Allowance in Quicken?

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Apr 20, 2013

Anyone know how to setup a paycheck showing Housing Allowance in Quicken?
by: Ken

It should be quite easy to do in Quicken. I am using an older version of Quicken and what I would suggest would be to have two sub categorizes under Salary, ie...
Salary:Base
Salary:Housing

You will be able to show in a report the total of Salary, the total of Base or the total of Housing.

Apr 21, 2013

thx Ken! Now trying to take to additional level
by: Allen

Ken,
That is very helpful, thank you! I am stumbling forward and can do what you suggested. The next step would be for my actual housing expenses to offset the income for tax planning inside Quicken during the year.

If I just tie in my housing M&R, cleaning expenses, utilities, mortgage, etc to the tax line (inside Quicken) of something deductible then I am not sure that would be the same as actually reducing the income which other schedules may be based on.

How can I not only show the allowance as a separate income but for tax planning also shaow the expenses that reduce that income?

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Join in and write your own page! It's easy to do. How? Simply click here to return to Housing Allowance.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)

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