Parsonage Allowance

	Definition of 'Parsonage Allowance' An allowance designated by a church or other organization for its church professionals (clergy) for the expenses of providing and maintaining a home.
	Investopedia explains 'Parsonage Allowance' This is basically a housing allowance for ministers. Parsonage allowance is excluded from gross income, but it is included under a self-employment tax.

Related Definitions

Tax Tips For The Individual Investor

We give you seven guidelines to help you keep more of your money in your pocket.
Managing Income During Retirement

Learn some sensible strategies for making your hard-earned savings last for as long as you need them.
Introduction To Multi-Discipline Accounts

You get multiple managers, affordable diversification, customization and consolidated reporting all under one roof.
Tax Treatment Of Roth IRA Distributions

Learn the requirements for withdrawing funds tax and penalty free.
The Rap On Wrap Fees For Retirement Accounts

If your retirement account is managed under a wrap fee program, you need to consider whether you should pay the fee out of your retirement account balance or out-of-pocket.

Why Americans Think Bush Is To Blame For The Economy	The Complete Guide To Calculating Your Net Worth		Top Investment Trends For 2013	5 Viable Career Options In 2013
	How Do Internet Browsers Make Money?	Commodities Of The Future	Trending Stocks And The January Effect