Joseph Smith Rings

[All-American]

Originally Posted by tooblue

Well said, though the minute you are called you will KNOW it was only through revelation

It would be a crisis of faith, I assure you.

[Archaea]

Originally Posted by tooblue

Well said, though the minute you are called you will KNOW it was only through revelation

Can't you just see AA and SEIQ as the Quorum intellectuals, and Chapel Hill as the new President of BYU heralding a new day for BYU intellectuals, as his brief stint as President of UNC Chapel Hill.

An Elder Seattle Ute of the First Quorum of the Seventy comments how noted psychiatrist Mike Waters who is just being inducted as a member of the Second Quorum consulted two acting members of the Quorum.

[Cali Coug]

Originally Posted by tooblue

Not necessarily, especially if the funds are administered in identical fashion as tithing funds are administrated.

For example Does the GA acutally receive the money in an account and then pay his utility bill? I dare say no, and in fact why would such proceedure be markedly different than all other proceedures in the church?

It is more likely that there is an accounting body that pays the bills just as is the case with missionary apartments and vehicules -I didn't pay my utilitiy bills as a missionary, the mission office looked after it.

It would also be very consitent for the GA to expense any purchase he may make as opposed to simply withdrawing from an account, just as a Bishop must do in administering the funds for a Ward.

To me the distinction between the two words is a big deal because it speaks to motivation for rendering the service. Money never has nor ever will be the motivator.

You are supposed to pay taxes as a missionary on the funds you receive from the church. Usually the funds are so low you are exempt anyways, but you should still claim it if you file.

[Archaea]

Originally Posted by Cali Coug

You are supposed to pay taxes as a missionary on the funds you receive from the church. Usually the funds are so low you are exempt anyways, but you should still claim it if you file.

Are you?

I'm not a CPA, but have no idea. It sounds logical, as anything you receive in cash is theoretically income, but stipends for scholarships to college are not taxable.

[tooblue]

Originally Posted by Cali Coug

You are supposed to pay taxes as a missionary on the funds you receive from the church. Usually the funds are so low you are exempt anyways, but you should still claim it if you file.

That's very new to me and I am sceptical considering money directed to missionaries is taken from the general mission fund of each Ward - Stake - Region etc., which is made up soley of contributions of members and does not come from the church, and is considered a charitable donation and not income.

I'm older and for the first year of my mission my parents sent me money directly, before the whole mission equal payment method. That money most definately wasn't taxable because it was savings.

[pelagius]

Originally Posted by Archaea

Are you?

I'm not a CPA, but have no idea. It sounds logical, as anything you receive in cash is theoretically income, but stipends for scholarships to college are not taxable.

In general, stipends and fellowships are taxable. The part used for qualified educational expenses isn't taxable, but the residual is taxable (See IRS Publication 970).

[tooblue]

Originally Posted by Archaea

Are you?

I'm not a CPA, but have no idea. It sounds logical, as anything you receive in cash is theoretically income, but stipends for scholarships to college are not taxable.

But you are drawing it directly from savings and it doesn't come from the church but rather is a charitable donation, therefore I don't think it can be considered income.

[creekster]

How do mission funds work these days? To whom are payments made and do amounts vary at all from mission to mission?

LBP

[tooblue]

Originally Posted by creekster

How do mission funds work these days? To whom are payments made and do amounts vary at all from mission to mission?

LBP

Every missionary pays the same amount per month, regardless of misson. One Typical method is the family or the missionary if he has saved for his mission gives the Bishop 24 post dated checks, one for each month of the mission.

The Bishop includes the check in the first of the month deposit along with fast offerings and tithes. The check is designated to the Ward Mission fund. The church draws directly from that fund and sends the money to the missionary/mission in the field.

If the missionary or family is not in a position to pay for the mission the Bishop can draw from the Ward mission fund. If there are not enough funds the Bishop asks members of the Ward to contribute to the fund. If necessary the Bishop may ask the Stake president to draw from other Wards funds in special circumstances.

[creekster]

Originally Posted by tooblue

Every missionary pays the same amount per month, regardless of misson. One Typical method is the family or the missionary if he has saved for his mission gives the Bishop 24 post dated checks, one for each month of the mission.

The Bishop includes the check in the first of the month deposit along with fast offerings and tithes. The check is designated to the Ward Mission fund. The church draws directly from that fund and sends the money to the missionary/mission in the field.

If the missionary or family is not in a position to pay for the mission the Bishop can draw from the Ward mission fund. If there are not enough funds the Bishop asks members of the Ward to contribute to the fund. If necessary the Bishop may ask the Stake president to draw from other Wards funds in special circumstances.

Thanks.