Moderators Gregory Matthews Posted December 20, 2017 Moderators Share Posted December 20, 2017 The House and Senate have voted a new Federal Tax bill. President Trump is expected to sign it into law. Some have wondered how this bill would affect the SDA denomination. Today, the GC Office of General Counsel has released a three page document on this subject. You can access that release at: https://gallery.mailchimp.com/84ac041b8b705798057dab6f2/files/e2d09a7b-dd6a-4f6f-8588-0fb4b1bf6ab7/dec_20_2017_Tax_Reform_Memo_final_OCG.02.pdf There are a number of areas that this tax bill and the letter address issues of interest to SDA employees and members, Included in these, but not covering all are the following issues: * The taxation of moving expenses for employees. * The taxation of educational expense reimbursement for employees. NOTE Some are taxed and some are not taxed. * Qualified Tuition programs for students. This has immediate interest for our high schools and our grade schools.. * The deduction of unreimbursed business expenses. A major change here. NOTE: It is of interest to see that the Office of General Counsel expects that the U.S. Supreme Court will decide the issue of the Parsonage Allowance/Exclusion. Quote Gregory Link to comment Share on other sites More sharing options...
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