Should Travel Reimbursement Be Taxed Video
Should Travel Reimbursement Be Taxed
Travel Reimbursement and Taxes
If your church doesn’t have a 100% accountable reimbursement policy, all of your reimbursements and stipends count as taxable income.
You’ll need to get your reimbursement and hang on to your receipts to itemize those deductions at tax time.
The best route is to establish a 100% accountable reimbursement policy so you don’t have to worry about all of the hassle with itemized deductions or worrying about losing all of that money before you hit your deductible floor.
For more information or personalized clergy financial coaching, visit http://www.clergyfinancialcoaching.com
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