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 Commentary
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 Links
Five Tips for the Tax-Smart Investor
Tax Tips For The Individual Investor
See also: Away From Home, Convention Expenses, Income Tax, Taxes, Write-Off