by Dean Turvaville
(Clovis,NM)
Is a Minister, whose secular income exceeds the Social Security Maximum amount required to pay Social Security Tax and thus at some point he stops paying the tax during the year, required to pay Self Employment Tax on his housing allowance he receives from the church?
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1Comments
SE tax
CCarol
Yes, but I believe if you work through the form carefully you will see that the tax amount will end up being just medicare-equivalent, rather than both social security- AND medicare-equivalent.