This Week's LessonWeek of May 27
This lesson focuses on the issue of Parsonages. You can review the Executive Summary to obtain the key points or read the Weekly Lesson for a more thorough presentation of this topic. Start by completing the following interactive quiz to test your knowledge.
Pastor Jay lives in a church-provided parsonage that has an annual rental value of $10,000. Should the church treasurer report this amount as taxable income on Pastor Jay's W-2 form? In addition, Pastor Jay's church designated $5,000 of his salary this year as a "parsonage allowance." He uses this entire amount to pay for parsonage-related expenses, including utilities and furnishings. Should the church treasurer report any of this allowance as taxable income on Pastor Jay's W-2 form? These questions are addressed in this week's lesson.