Posted by:
Brother Of Jerry
(
)
Date: March 25, 2019 01:37PM
I don't know what the Q15 are paid. Neither do you, so stop pretending.
$120K per year sounds low, but if most other expenses are paid, that is certainly a living wage, even for "executives".
The tax rules for clergy is its own little byzantine corner of the tax code, and I don't pretend to know the ins and outs. I'm sure there are people at Kirton-McConkie that can quote entire subsections.
I do know that many of the perks that have been mentioned here are considered as taxable income by the IRS. Specifically, "forgiven" loans are income. Signing bonuses are income. Being given a stock portfolio is income at the time it is signed over to you. If it goes up in value after that, when you sell it, the increase is income (capital gain).
The only tax-free perk that I am aware of for clergy that does not apply to the general public is that housing can be provided by the church, and it is not taxable income to the clergy member. By way of comparison, the general public has a similar tax break. Under the normal rules of what constitutes income, the money an employer pays for health insurance should count as income to the employee. The only reason it does not is because health insurance was specifically exempted from being treated as income, and in fact, that health premium exemption is the largest single tax loophole (in total dollars exempted from taxation) in the IRS code.
In reality, this is all largely irrelevant. It matters not a bit if they make $10k a month or $100k. The BoM is a fraud in either case. JS was a con man and a lech in either case. LDS Inc is every bit as "not true" in the US where temples are not property taxed as it is in the UK where temples are taxed.
If LDS receives $6-7 billion in tithes, as has been reported here, even if the Q15 are paid a million or more per year, it is still petty cash compared to the total income of LDS Inc. Add the income from their for-profit investments and companies, That would make it even pettier petty cash.
While I don't know, I doubt the Q15 get anywhere near the kind of salaries that corporate CEOs have been giving themselves in recent decades. At some point they would have to spend it on something, and property records are public. Ownership can be disguised, but if you dig hard enough, it can be traced back to actual people. There are enough children and grandchildren of GAs who have left the fold, that if there were sumptuous residences and vacation properties for family use, word would get out, and the Michael Quinns of the world would track down evidence to confirm or disconfirm the rumors.
Edited 1 time(s). Last edit at 03/25/2019 01:39PM by Brother Of Jerry.