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Parsonage Allowance
What does it mean?
An allowance designated by a church or other organization for its church professionals (clergy) for the expenses of providing and maintaining a home.
In Other Words...
This is basically a housing allowance for ministers. Parsonage allowance is excluded from gross income, but it is included under a self-employment tax.
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Related Terms
Away From Home | Convention Expenses | Income Tax | Taxes | Write-Off
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