One of the greatest financial benefits available to pastors is the housing allowance exemption. This comes in two forms: the minister’s cash housing allowance and parsonage allowance. These allow “ministers of the gospel” to exempt all of their housing expenses from federal income taxes. That can be worth quite a bit of money, so who are these “ministers of the gospel” that are eligible to take advantage of it?
Check out the full article:
Who is Eligible for the Clergy Housing Allowance?
Article by The Pastor's Wallet
Photo by Rowan Heuvel on Unsplash