by Kevin
(Jacksonville, NC)
Our assistant pastor receives is a bi-vocational licensed minister.
His monthly compensation is $1,000 per month ($500 designated as salary, and $500 designated as a housing allowance).
We would like the full amount to be designated as housing allowance, and he meets the criteria. I was told by the CPA that only half of the income may be designated as housing allowance.
What is the reference from the IRS? Topic 417 doesn't cover it. I don't see any other reference that states only half of the income be paid as housing allowance.
Thank you
1Comments
100% Housing Allowance
VVickey
Ask your CPA to provide you with the IRS regulations that state that. As far as I know ...there are none.
$1000 a month is not "excessive" and since he has other income to "cover" non-housing expenses... approving a 100% of his compensation as a housing allowance sounds "reasonable "to me.
$1000 a month is not "excessive" and since he has other income to "cover" non-housing expenses... approving a 100% of his compensation as a housing allowance sounds "reasonable "to me.