Podcast
Questions and Answers
True or false: The Foreign Earned Income Exclusion allows you to exclude all of your foreign-earned income from your taxable income in 2023.
True or false: The Foreign Earned Income Exclusion allows you to exclude all of your foreign-earned income from your taxable income in 2023.
False (B)
True or false: Members of religious orders are completely exempt from paying self-employment tax on all services they provide.
True or false: Members of religious orders are completely exempt from paying self-employment tax on all services they provide.
False (B)
True or false: All military pay is taxable and must be reported on Form 1040.
True or false: All military pay is taxable and must be reported on Form 1040.
True (A)
True or false: If you are a non-resident alien and work for a foreign employer outside of the United States, you are eligible for the Foreign Earned Income Exclusion.
True or false: If you are a non-resident alien and work for a foreign employer outside of the United States, you are eligible for the Foreign Earned Income Exclusion.
True or false: Members of religious orders can claim tax deductions for all expenses related to their religious duties, regardless of the amount.
True or false: Members of religious orders can claim tax deductions for all expenses related to their religious duties, regardless of the amount.
True or false: Basic Allowance for Housing (BAH) and Basic Allowance for Subsistence (BAS) are both taxable.
True or false: Basic Allowance for Housing (BAH) and Basic Allowance for Subsistence (BAS) are both taxable.
True or false: The IRS website provides no information on tax reporting for members of religious orders.
True or false: The IRS website provides no information on tax reporting for members of religious orders.
True or false: If you served in a combat zone, all of your combat pay is automatically excluded from your taxable income.
True or false: If you served in a combat zone, all of your combat pay is automatically excluded from your taxable income.
True or false: To qualify for the Foreign Earned Income Exclusion, you must be physically present in a foreign country for at least 365 full days during the tax year.
True or false: To qualify for the Foreign Earned Income Exclusion, you must be physically present in a foreign country for at least 365 full days during the tax year.
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Study Notes
- Income of members of religious orders is reported on tax returns like any other income.
- Members who have taken a vow of poverty are exempt from paying self-employment tax on qualified services.
- Some expenses related to religious duties may be tax-deductible.
- Members should consult with a tax professional to determine eligibility for deductions.
- Housing and stipend for food and clothing may be partially or fully tax-exempt.
- Salary for teaching or other work is subject to income tax.
- Special rules apply to members of religious orders.
- IRS website has more information on tax reporting for members of religious orders.
- Travel, housing, clothing, educational expenses, professional dues and publications may be tax-deductible.
- Tax professionals can help members determine eligibility for tax deductions.
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