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Feb 21, 2018
5:53:32pm
Acorn All-American
Reporting back on paying 2017 double tithing (17+18). Holy Schmoly!!
I just finished my first pass on my taxes and my refund is going to be monstrous. I was worried about AMT and I think I have confirmed that donations don't impact it very much. I wasn't sure how big my refund was going to be because I skipped my Q4 estimated tax payment...Actually I had a pretty good idea, but seeing the hard numbers is very nice.

I also just finished the first pass on my brother's taxes and he also is going to receive a HUGE refund. I called a lot of people to tell them about the opportunity and I expect there will be a lot of happy people...

And I haven't done state yet. I am sure there will be really good news there too.

For all of you that don't know about the potential benefit of doubling down on tithing every other year (paying one year in advance), the benefits can be substantial under the new tax law (I tried to link one of my several posts on this thread).

For the TLDR crowd. If your mortgage interest is significantly less than $14K, or the combination of your state and local taxes (SALT) plus mortgage interest is significantly less than $24K AND the sum of your tithing, SALT and interest will be much over $24K, you have an opportunity, read more. Pick the year to double down and get the low hanging fruit (money).
This message has been modified
Originally posted on Feb 21, 2018 at 5:53:32pm
Message modified by Acorn on Feb 21, 2018 at 5:54:51pm
Message modified by Acorn on Feb 21, 2018 at 5:55:47pm
Acorn
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Acorn
Joined
Nov 25, 2004
Last login
Nov 22, 2024
Total posts
19,589 (2,435 FO)
Related Threads Topic: Public Service Announcement: How to determine if you should double tithing. (Acorn, Dec 24, 2017 at 11:10am)

Other Related Threads:
Public Service Announcement: Should you double tithing? Second Attempt (Acorn, Dec 25, 2017 at 5:11am)
Here's my PSA (Wash Hogwallop, Dec 24, 2017 at 4:09pm)
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