Comments on: Test Your Tax Knowledge http://allfinancialmatters.com/2005/09/12/test-your-tax-knowledge/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 19 May 2012 00:05:44 +0000 hourly 1 http://wordpress.org/?v= By: Financial Fruition http://allfinancialmatters.com/2005/09/12/test-your-tax-knowledge/comment-page-1/#comment-115 Financial Fruition Wed, 14 Sep 2005 15:24:27 +0000 http://www.allthingsfinancialblog.com/2005/09/12/test-your-tax-knowledge/#comment-115 Straight from Publication 17.... If your order directs you to perform services for another agency of the supervising church or an associated institution, you are considered to be performing the services as an agent of the order. Any wages you earn as an agent of an order that you turn over to the order are not included in your income. Straight from Publication 17….

If your order directs you to perform services for another agency of the supervising church or an associated institution, you are considered to be performing the services as an agent of the order. Any wages you earn as an agent of an order that you turn over to the order are not included in your income.

]]> By: Jason http://allfinancialmatters.com/2005/09/12/test-your-tax-knowledge/comment-page-1/#comment-103 Jason Tue, 13 Sep 2005 13:11:05 +0000 http://www.allthingsfinancialblog.com/2005/09/12/test-your-tax-knowledge/#comment-103 http://www.irs.gov/taxtopics/tc417.html http://www.irs.gov/taxtopics/tc401.html OK, I'll take a stab at this: Yes, this is earned income and will be taxed. He should receive a W-2 for his earnings. Then he can claim a charitable deduction for the amount he returned to the order - up to the limit (limited to offsetting 50% of his earned income???) Topic 417 (above link) applies if he is a clergy member and topic 401 if he is not. http://www.irs.gov/taxtopics/tc417.html
http://www.irs.gov/taxtopics/tc401.html

OK, I’ll take a stab at this: Yes, this is earned income
and will be taxed. He should receive a W-2 for his earnings.
Then he can claim a charitable deduction for the amount he
returned to the order – up to the limit (limited to offsetting
50% of his earned income???) Topic 417 (above link) applies if
he is a clergy member and topic 401 if he is not.

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