Pastor Loses Parsonage Exclusion To Poor Planning
The IRS did not challenge Reverend Williams’ status as a “minister of the gospel” nor that he had spent $33,126 on expenses that would qualify as housing expenses. The argument was that the designation of the amount was not in accordance with the regulations.
Would Eliminating The Property Tax Deduction Be A Big Deal?
The Tax Foundation’s dynamic economic model finds that the elimination of the property tax deduction would shrink the economy by $94 billion, reduce employment by the equivalent of approximately 216,000 jobs, and decrease wages by 0.4%.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.