A lot of attention has been spent talking about the cost of disaffiliating from the United Methodist denomination. While this is important, it’s a one-time cost. What about the ongoing costs? While there are many unknowns, there are some costs that are fairly certain…at least in the short-term.
Have you ever tried to memorize a sum in Excel so that you can write it down in an email or some other document. You quickly repeat the number to yourself two or three times, type it out, and then verify that you didn’t forget along the way.
I just thought that was the way Excel was. My mind was completely blown when I learned this was completely unnecessary. Excel made a super easy, one-click solution. I love Excel!
Each June the United Methodists celebrate pastors that are retiring. I always love hearing the words of wisdom they share with us at Annual Conference.
My gift back to these retirees is a reminder of how the Housing Exclusion works in retirement. Retirees can save thousands in taxes if they understand this. Actives should know about this as well for their own tax planning.
If there’s any question I get more often than any other (at least relating to the Housing Exclusion), it’s this: “Does the IRS have a list of housing expenses I can write off?”
The answer is No. In all my reading, the IRS doesn’t even give an example. So, that has led some clergy tax experts to put together their own list which I share with you here.