Earlier quoted context omitted.
I don't know about the US tax system, but at least in my experience here in Australia, not every expense incurred by a business or partially-taxed non-profit is necessarily deductible. For example, I formed a company with some friends for the purpose of work on a single contract, and the expenses we incurred in incorporating the company were only deductible at a rate of 20% per year over 5 years, so we ended up havin…
That’s depreciation on capitalised assets. Churches would like have very few assets that depreciate apart from buildings.
In any case, my broader point is that tax law for businesses and other taxable organisations is not as simple as "we didn't make a profit and therefore pay no tax this year", and therefore as someone who isn't a qualified tax accountant, I can't really say with much accuracy what impact particular changes to tax law are going to have on the overall financial position of an organisation like a church.