by Charles
(Tampa, Fl, USA)
Is there a limit to the percentage of income you place in housing allowance? If your housing expenses are equal are greater than your income, are you allowed to place 100% of your income as housing allowance?
1Comments
limit on housing allowance?
AAnonymous in NC
It is possible that the minister's income could be equal to the housing allowance if negotiated that way for the year. The minister is the one ultimately responsible to IRS in explaining what he/she has excluded from income for housing allowance (the lesser of three rule). However, the church must designate yearly what the housing allowance is in their minutes, line-item-budget, or a resolution. But, yes it is possible it could be 100%.