California is high taxes, but no deductions for personal exemptions

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Dec 24, 2017
3:11:53pm

TeeKaa All-American

and zero deduction for state & local income taxes, neither for property taxes. It's a real bite.

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TeeKaa

Bio page: TeeKaa
Joined: Jun 11, 2003
Last login: Nov 22, 2024
Total posts: 10,671 (172 FO)

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Messages

Author

Time

Public Service Announcement: How to determine if you should double tithing.

Acorn

12/24/17 11:10am

Don't people also have until April 15 to make that decision?

bluebloodedcoug

12/24/17 11:27am

No.

mulletino

12/24/17 11:28am

No, it must be done by Dec 31st

RexIdaCoug

12/24/17 11:29am

For those of you that might need help, this guy could help you

Acorn

12/24/17 11:49am

You do have until April 15th to decide about an IRA contribution, provided

Iman23

12/24/17 11:37am

Good to know

bluebloodedcoug

12/24/17 12:08pm

What if I can't double but could only go 5k? Still worth it right?!

Coconut Blue

12/24/17 11:38am

Good question for a partial example - another example to consider...

Acorn

12/24/17 11:46am

Hated AMT complicates things. I hate AMT.

TeeKaa

12/24/17 11:53am

Good point. I probably need to do a little more math...

Acorn

12/24/17 12:38pm

California is high taxes, but no deductions for personal exemptions

TeeKaa

12/24/17 3:11pm

Thanks bro. Accounting major daughter home from BYU, just explained donations i

SaturdaySpecialDay

12/24/17 11:56am

Thanks Acorn. This plus the in kind donations we did this year (thanks for that)

O Gaucho

12/24/17 12:42pm

You are very welcome

Acorn

12/24/17 1:16pm

You don't add 9, 15, and 19 in coming up with the total number?

rdiddy801

12/24/17 1:18pm

Another example to help clarify. Good question

Acorn

12/24/17 1:48pm

Ahhh, got it. I'm slow. Thank you sir!

rdiddy801

12/24/17 3:07pm

if you pay 5% you should double what you pay 🙂

paulb

12/24/17 2:12pm

Tithing isn't supposed to be paid the year before

zerigke

12/24/17 3:51pm

Additionally, to me this sounds like working the system to your benefit.

zerigke

12/24/17 3:52pm

Effective tax planning is not “gaming” it is being wise with your resources

morningcalmcougar

12/25/17 5:19pm

You can't be serious.

mulletino

12/24/17 3:58pm

How does the scripture go again?

Cougarclaw

12/24/17 4:14pm

That is not what the handbook says.

RexIdaCoug

12/24/17 4:25pm

Actually that isn’t true. The church even has systems in place to help the wealthy prepay tithing in order to get

CDV

12/24/17 4:26pm

I haven’t heard of this. Details?

Acorn

12/24/17 7:26pm

I posted about it a few days ago. You use a donor advised fund.

CDV

12/24/17 7:41pm

Oh. I know about donor advised fund

Acorn

12/24/17 8:42pm

The church’s planned giving department literally advises how to do this and helps set it up to pay

CDV

12/25/17 9:19am

RE: I haven’t heard of this. Details?

supertux

12/24/17 8:27pm

You’d make a great bishop

maxpowers

12/24/17 4:27pm

So, if I made $100K in '17, but paid $0, then paid $10K 1/1/18 to cover it, I would be a non-tithe payer?

Ragnar Danneskjold

12/24/17 4:48pm

Hah he's not even going that far. He's saying prepaying. I can only imagine his

supertux

12/24/17 4:59pm

This is called bunching your donations. 2 years worth paid in 1 tax year. This

scott715

12/24/17 5:12pm

This is my opinion and what seems right to me.

zerigke

12/24/17 4:54pm

Any bishops on this board? I'd be interested to hear your take.

zerigke

12/24/17 4:56pm

Maybe you should ask your bishop

supertux

12/24/17 5:00pm

They’d hopefully tell you to fly a kite

maxpowers

12/24/17 5:00pm

<< Deleted >>

RdF3

12/24/17 5:08pm

I'm Stake president and it is perfectly fine to prepay tithing. It shows faith in the future. Heber C Grant

nybyblue

12/24/17 10:55pm

Zman, certainly you should go what makes you comfortable. However, with respect

sah22

12/24/17 5:50pm

Woah. Don't drag me into this.

Zman

12/25/17 11:44am

Hahahahaha, sorry, other Zguy.

sah22

12/25/17 12:55pm

<< Deleted >>

trjohnson007

12/25/17 5:27pm

Yes, I agree. I just said it a bit wrong. I meant if you can say you're full,

sah22

12/25/17 9:02pm

Spot on

HowardH

12/25/17 7:35pm

Guess you should pay your tithing every day lest you become a sinner

kotacoug

12/24/17 9:07pm

To be clear, can you tell me if this helps if the

libertycoug

12/25/17 1:42am

Try following this. It's what helped me a bit.

sah22

12/25/17 6:32am

Thank you

libertycoug

12/25/17 9:53pm

I have read this 4 times and have no idea what you just said. Pray for our stake

NorthernCougFan

12/25/17 2:44am

RE: I have read this 4 times and have no idea what you just said. Pray for our

BluebloodOR

12/25/17 11:38pm

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