If I started a ministry and got a 501c3 to be tax free, could I then give money from my bank account to the mi
Answer:
As long as you don't draw from the bank account for your personal expenses, I'm pretty sure it would be deductible. If you plan to draw money out for personal expenses (personal transportation, clothing, medical, food, etc. for your family) as a salary. Then the money taken out would be subject to taxes. You would want to incorporate as a non-profit if you plan to take salaries out. That way your separating you from the ministry, tax wise. Be sure to be careful and document all expenses. The more detail the better. As soon as a board for the ministry can be formed, they should set salaries as needed. Many ministers tithe as an example to their congregation. They receive a W-2 and pay taxes on their salary and deduct their tithes on schedule A. Don't forget your housing allowance. The IRS has a booklet that can be downloaded . Publication 517 will answer most of your questions Other Questions and Answers: