Yep, this is something to get the word out on. For those in the right situation - you could be saving 25% or 28%, etc

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Dec 25, 2017
9:34:16am

Zenoch All-American

Yep, this is something to get the word out on. For those in the right situation - you could be saving 25% or 28%, etc

on any itemized contributions. So if it works out that you shift $10,000 to this year that is $2,500+ dollars in direct savings just by paying extra one year vs the next. Definitely worth trying if the situation works out for you.

Thanks Acorn for helping get the word out.

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Zenoch

Previous username: Jett
Bio page: Zenoch
Joined: Mar 29, 2002
Last login: Nov 22, 2024
Total posts: 18,086 (215 FO)

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Messages

Author

Time

Public Service Announcement: Should you double tithing? Second Attempt

Acorn

12/25/17 5:11am

it's not really a repeat thing if you're itemized deductions are under $25K,

rggee

12/25/17 5:25am

It is if doubling down gets you over $24K

Acorn

12/25/17 5:29am

I'd probably have to triple it....

rggee

12/25/17 5:31am

In your future, your income will rise

Acorn

12/25/17 5:33am

If you itemize more than $24K does this help?

8-track

12/25/17 6:20am

It can,especially if it causes your itemized deductions to dip below 24k in 2018

BYUCPA

12/25/17 6:44am

If you have $10k in SALT deductions and $14k in mortgage deductions next year

Submariner

12/25/17 6:59am

Actually at 10 and 14, there is no benefit. For every 1K under $24K

Acorn

12/25/17 7:18am

I think everyone's marginal tax bracket drops a few percent next year, so there

Submariner

12/25/17 7:34am

AMT changes things a lot. I'm at 28% this year, higher next year but I'll deduct

jvquarterback

12/25/17 2:19pm

Does the double tithing payment need to be recorded at Church HQ

Uncle Bluto

12/25/17 8:26am

No grace period on donations

supertux

12/25/17 8:30am

Yep, this is something to get the word out on. For those in the right situation - you could be saving 25% or 28%, etc

Zenoch

12/25/17 9:34am

Is there a possible downside to prepaying?

12/25/17 2:05pm

Two come to mind

Acorn

12/25/17 2:10pm

Another: Any donation to the Church is irrevocable. If someone got laid off, health issue, etc and doesn't have the

Zenoch

12/25/17 2:20pm

That happened to me. Never considered it a downside.

Acorn

12/26/17 5:35am

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