Can I be an "ordained minister" and trade tax-free?

J

J.P.

Can I be an "ordained minister" and trade tax-free?

Someone said I can garner space somewhere, get an online religious diploma, invite a few friends (my congregation) over once a week for "services" and not pay income tax if done right. And also stop paying property tax as my house would become a parsonage. I thought he was joking and I didn't think much of it until I saw that someone rented a space in a local run-down strip mall and put a House of God sign in the window.

Does anyone have any experience with this?
 
Quote from J.P.:

Can I be an "ordained minister" and trade tax-free?

Someone said I can garner space somewhere, get an online religious diploma, invite a few friends (my congregation) over once a week for "services" and not pay income tax if done right. And also stop paying property tax as my house would become a parsonage. I thought he was joking and I didn't think much of it until I saw that someone rented a space in a local run-down strip mall and put a House of God sign in the window.

Does anyone have any experience with this?
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I'm sure there are plenty of people in prison with experience.
 
Yes, you can do this but only if you can prove to the IRS that every trade was executed by the hand of God.

:D
 
Quote from NoDoji:

Yes, you can do this but only if you can prove to the IRS that every trade was executed by the hand of God.

:D
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God is giving by nature. Doesn't this describe 98% of all traders on ET. Giving their money away! Pretty convincing proof!:D
 
Quote from SimpleTrades:

God is giving by nature. Doesn't this describe 98% of all traders on ET. Giving their money away! Pretty convincing proof!:D
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Post of the week
 
Quote from SimpleTrades:

God is giving by nature. Doesn't this describe 98% of all traders on ET. Giving their money away! Pretty convincing proof!:D
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"It's not a loss, I'm tithing!"
 
Quote from NoDoji:

"It's not a loss, I'm tithing!"
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Tithing is a Sunday morning ritual in most cases. Last I checked markets are not open Sunday morning. Nice try!

And why is the lady who boasted about $400/day on $10,000 capital talking about tithing? You're either not being honest or you have an intimate relationship with Satan! :D :D
 
Jokes aside (but don't get me wrong, I appreciate them), why can't I establish a small church and pay no taxes? There seems to be a paucity of information about this on the IRS site. What are the specific criteria that need to be met to exempt you from taxes? You have these TV evangelists flying around in private jets, living high, investing massive donations and accumulating capital gains all tax-free. And there's the little guy in the strip mall doing it on a low level. What are the minimum requirements?

I'm not talking about doing anything illegal. What does it take to be a legitimate church in the eyes of the IRS and live tax-free?
 
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