Spending Large Savings to Build

My husband and I have saved a significant amount of money to build a garage apartment. When we choose to begin the process it will exceed the amount of our total income for the year.

He is the breadwinner, and my income on paper would not be enough to cover non-eligible costs.

The dilemma is then, he will continue to get paid throughout the year, covering food and other non-qualifiying expenses, yet we will technically be spending the equivalant of his yearly income.

First question, would you then advise to claim our entire income?

The code literally lists garages in the description, which leads me to my adjacent inquiry.

Does the law permit me the right to claim the entire building of the garage apartment?

Thank you for your service, time and input.

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Dec 27, 2014
Spending Large Savings to Build
by: Lewis in NC

I am sorry; your question is not quite clear as to how it relates to ministers and church accounting? Are you and/or your husband ministers? What is the garage apartment going to be used for?

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