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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.
False
True or false: Members of religious orders are completely exempt from paying self-employment tax on all services they provide.
False
True or false: All military pay is taxable and must be reported on Form 1040.
True
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.
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True or false: Members of religious orders can claim tax deductions for all expenses related to their religious duties, regardless of the amount.
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True or false: Basic Allowance for Housing (BAH) and Basic Allowance for Subsistence (BAS) are both taxable.
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True or false: The IRS website provides no information on tax reporting for members of religious orders.
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True or false: If you served in a combat zone, all of your combat pay is automatically excluded from your taxable income.
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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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Description
Are you a member of a religious order or considering joining one? It's important to understand the unique tax rules and regulations that apply to you. Take this quiz to test your knowledge on tax reporting, exemptions, and deductions for members of religious orders. From income reporting to housing and education expenses, learn what you can and cannot deduct on your tax returns. Don't forget to consult with a tax professional for personalized advice.
