Question: Do you have a packet or form for Licensed Pastor’s that come on board for housing/parsonage allowance or more importantly any IRS publications you provide relating to this?
Answer: Attached are two forms. First is a basic housing allowance form for use by the church, pastor and Church Council to document the housing allowances. The approval of the allowance is supposed to be before the calendar year, which typically means Council Approval in December.
Second is a Fair Market Rental Valuation analysis. Its explanation and additional worksheets can assist you in setting your housing allowance without exceeding the Fair Market Rental Value.
Third are the following links to the IRS website for areas related to clergy housing allowances.
http://www.irs.gov/faqs/faq4-10.html
http://www.irs.gov/faqs/faq-kw100.html
http://www.irs.gov/taxtopics/tc417.html
http://www.irs.gov/publications/p517/index.html
Blog Author
- C. Paul Glenn
- is the Executive Director of Finance & Operations at Grace Covenant Church in Cornelius, NC. He is also Chairman of Harvests of Hope Int'l. He has an accounting degree from Oral Roberts University and has been married to Susan since 1989. They have two children. Prior to ministry Paul packed a wealth of experience into his career path which includes positions as a public accountant, a financial analyst, a controller and CFO, as well as a management consultant. His pastor’s heart guides a passion to oversee the business aspects of ministry to (1) see the lost find Christ and (2) to allow other pastors and leaders to more freely shepherd their congregations. He regularly consults churches regarding his unique insights on church construction and is also coaching and mentoring over 120 churches in aspects of administration. Working with a team to found Harvests of Hope Int'l he now has the privilege as its Chairman to bring hope to families affected by HIV/Aids throughout Africa.
Sunday, January 6, 2008
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