by Dr. Dan Eischen
(Oklahoma)
I have been declaring my pension as housing Allowance for several years subject to tax on the amount not used for pay SE tax on.
Since total income from retirement and Social Security is below tax liability once exemptions are claimed, would it be more financially advantageous to claim all or part of Housing Allowance next year as salary so as not to pay the SE tax?
1Comments
Seek Professional Minister Tax Advice
VVickey
It would depend on how your pension is set up and your personal tax situation, so I strongly advise you to seek professional tax advice from someone like Corey A. Pfaffe, CPA, owner of the CPA Ministry :
https://ministrycpa.org/
https://ministrycpa.org/