Father Hoffman received $45,000 in mimisterial earnings: $30,500 salary for ministerial services, $1,750 for performing...

80.2K

Verified Solution

Question

Accounting

Father Hoffman received $45,000 in mimisterial earnings: $30,500 salary for ministerial services, $1,750 for performing weddings, and a $12,750 excluded parsonage allowance. If Father Hoffman's housing expenses were higher than his allowance, how much of his income is included for purposes of calculating federal income tax?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students