Okay, not actually a mailbag. But a couple months ago, somebody asked a question on my tax blog:
LDS mission presidents’ compensation/tax advice? Sam, are you aware of the tax advice in the mission presidents handbook – that living expenses for self & family (housing, food, transport, medical, etc.) are paid by the Church, but are not to be reported as income?
Honestly, I wasn’t aware of it but some quick Googling indicates that, yes, the church disclaims any employer-employee relationship with mission presidents and advises them that they’re not taxable on reimbursements from the church.
Could that possibly be right? [Read more...]