Minister's Housing Allowance: Don't waste your time on this

Minister's Housing Allowance (MHA) is a tremendous benefit, but are you wasting your time on this aspect of it? Watch this video for an idea on whether or not you should spend hours adding up every little item.

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*Disclaimer: All information contained in my videos are for general educational purposes only. These videos are not meant to be used as tax advice for any specific individual, business, or other entity. You should consult with a CPA or other professional before making any decision that impacts your tax and financial responsibilities. Additionally, I am not a Certified Financial Planner and I do not give investment advice. Any information contained in my videos related to budgeting, finances, or investments are solely my opinions and are not intended to influence specific decisions you may make as it relates to your finances.

[TeamLA]

Thank you, but no Schedule C for Paster's income? Only Schedule SE?

[jbaquedano]

Can the housing allowance be used to pay for the mortgage or is just for rental?

[gsman]

Love your video and the information is good, but I'm guessing most of the Ministers I know would always want to save an extra $50 on the tax return. If you are aware of what is included in the MHA, then the designation of the MHA prior to the beginning of the tax year, and the accumulation of the related expenses should be easy.

[indo]

My buddy told me. When a church is tax exempt. The gov is paying for the pastors expenses. Car insurance, car payment, gas, etc.

Hes telling me if the pastor files all those expenses, he gets 100% of it back when filing taxes. So hes basically telling me the gov is paying for his vehicle payment.

This doesnt seem accurate to me.

[rickyingram]

What do I put down for salary when trying to get scholarship if I make 40k but my housing is lets say 10? is 40k or 30k?

[Worship]

Is the self employment tax on only the housing allowance or wages also?