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Old 11-18-2016, 09:14 AM
 
Location: Grove City, Ohio
10,129 posts, read 12,376,133 times
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Quote:
Originally Posted by Gunluvver2 View Post
Matthew 6: 19 -20 accepts good works if you cannot afford the 10%. Did Mother Tereasa ever accept a dime for her works? Did she tithe millions of dollars? I am not a member of the Catholic faith but Mother Teresa set an exmple for ALL Christians.

Quoted from another poster. "How many of us limited our own financial security to help others in greater need? We can often be critical of those who have not reached the point of having saved enough for their retirement but are there reasons we don't discuss that have what for them might be a greater moral imperative?"
What you do is count your blessings and then you do what God tells you to do.

Nobody lasts forever and you can't take it with you.

Approaching my retirement, which could happen anytime and certainly will happen within the next 18 months, I am very blessed and I know it.

We give to our church monthly but more importantly we both donate our time to charity work. Together we I would estimate we spend at least 40 hours monthly to various charities that include a food kitchen, a woman's shelter and raising money for different organizations.

To be clear I give about 10 hours monthly of my time while my wife gives 30 hours or more. She is retired but very, very busy!

The giving does not have to be money.

 
Old 11-18-2016, 09:16 AM
 
Location: Idaho
4,621 posts, read 4,458,547 times
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Quote:
Originally Posted by GeoffD View Post
...Even if I believed in god and belonged to a church, why should I tithe to some religious organization when the government is already doing it for me?
Religion and politics are two of the most divisive topics there are. GeoffD has raised a valid question that is asked often.

So far, this thread has been respectful of the opinions of everyone who has contributed their thoughts. I was fearful that the thread would devolve into ugliness and would have to be locked or deleted. It has not so far. Please, please continue to keep the discussion civil. Thank you.



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Old 11-18-2016, 11:14 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
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Quote:
Originally Posted by Serious Conversation View Post
Frankly, unless you are reasonably well to do, tithing is going to be difficult to afford (?) while checking all the other personal financial boxes we're supposed to check. People are going to have wide latitude in how they allocate what they bring in.

Median household income here is about $35,000. Half are below this number. How is that bottom half going to maintain a reasonable lifestyle, save for retirement, children's college, and tithe? They can't, and the truth is they probably aren't doing any of those particularly well.
Not difficult at all when 'giving' comes out FIRST. (not an 'obligation, but a 'privilege')

The rest will fall into place as necessary, you will make adjustments within your own 'pot-o-gold'.

We did fine and 'retired' pre age 50 (on a single earner hourly wage), lived and traveled overseas as a family, paid / provided caregiver for a disabled parent, gave away more than we saved, kids got FREE college (2+ yrs) in our state* https://en.wikipedia.org/wiki/Running_Start


* (kids had jobs / businesses since age 12 to pay for books, and had plenty of income / assets to cover the final 2 yrs) (Had their ROTHs since age 12)). Not a DIME flowed to our kids after they were old enough to work (tho we matched wages 1:1 into their ROTHs till age 18. They survived (very well) and are very philanthropic / community service oriented as adults.

Very simple, very satisfying, we have been well cared for while caring for others. Nothing special, just day to day.

Ironically, you can plan to the "T", and be hosed in an instant.
 
Old 11-18-2016, 11:18 AM
 
Location: Tennessee
23,557 posts, read 17,535,380 times
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Quote:
Originally Posted by StealthRabbit View Post
Not difficult at all when 'giving' comes out FIRST. (not an 'obligation, but a 'privilege')

The rest will fall into place as necessary, you will make adjustments within your own 'pot-o-gold'.

We did fine and 'retired' pre age 50 (on a single earner hourly wage), lived and traveled overseas as a family, paid / provided caregiver for a disabled parent, gave away more than we saved, kids got FREE college (2+ yrs) in our state* https://en.wikipedia.org/wiki/Running_Start


* (kids had jobs / businesses since age 12 to pay for books, and had plenty of income / assets to cover the final 2 yrs) (Had their ROTHs since age 12)). Not a DIME flowed to our kids after they were old enough to work. They survived (very well).

Very simple, very satisfying, we have been well cared for while caring for others.
For those whom giving is a priority, they're going to give even if it means some other area is necessarily shortchanged.

A lot of people I know who are working class have learned how to live on very little. It may not be a quality of life I would feel comfortable with, but plenty of people are OK with living in a double wide, eating Beenee Weenees, and drinking Natural Light all day.
 
Old 11-18-2016, 11:44 AM
 
451 posts, read 178,375 times
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I have a question for those of you that tithe what seems to be the acceptable 10% of net income.

Is this amount fully tax deductible? We give a few hundred dollars each year to our church but nowhere near 10% closer to 0.4% of net. The church sends us a letter detailing what we gave and this is an itemized deduction on Schedule A. Same for tithing?
 
Old 11-18-2016, 12:09 PM
 
6,875 posts, read 7,270,643 times
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I appreciate this conversation very much.

Re deductibility….
I think you still have to itemize in order to deduct charitable deductions -- which include tithes. Tithes always were deductible -- but if you didn't itemize you couldn't take advantage of it.

BUT I think there was some talk of changing the rules so you could deduct charitable donations on you main 1040 forms -- and NOT having to itemize to take advantage of the charitable deduction. Because a heck of a whole lot of people donate to churches and other charities -- who don't get to itemize.

Last edited by selhars; 11-18-2016 at 12:22 PM..
 
Old 11-18-2016, 12:14 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
Reputation: 23648
Quote:
Originally Posted by Serious Conversation View Post
For those whom giving is a priority, they're going to give even if it means some other area is necessarily shortchanged.

A lot of people I know who are working class have learned how to live on very little. It may not be a quality of life I would feel comfortable with, but plenty of people are OK with living in a double wide, eating Beenee Weenees, and drinking Natural Light all day.
OK... this working class grunt is plenty happy sitting in my 'home-made' house, in front of the stone fireplace, eating fresh salmon and watching this!
https://www.google.com/search?q=colu...w=1328&bih=686

all part of the 'master plan'...
built several homes, for FAR less than a Double Wide! Saved a few hundred thousand on housing costs = more $$ to give away!

BTW:... the house / residence is already gifted too... when we croak it will go to a non-profit youth / educational development organization

Last edited by StealthRabbit; 11-18-2016 at 12:40 PM..
 
Old 11-18-2016, 12:28 PM
 
Location: Idaho
4,621 posts, read 4,458,547 times
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Quote:
Originally Posted by cruisetheworld View Post
I have a question for those of you that tithe what seems to be the acceptable 10% of net income.

Is this amount fully tax deductible? We give a few hundred dollars each year to our church but nowhere near 10% closer to 0.4% of net. The church sends us a letter detailing what we gave and this is an itemized deduction on Schedule A. Same for tithing?
Yes. I believe the kick-off amount is $250, (not exactly sure). If you give/donate that much, or more, over the course of a calendar year to a charitable organization, (and churches are considered in this group, a 501(c)(3) organization), then they send you a form that details your contributions at the end of the year. Contributions/tithes are usually tax deductible, depending on the individual's tax circumstances. For income tax purposes, tithes are considered charitable contributions.


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Old 11-18-2016, 12:30 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
Reputation: 23648
Quote:
Originally Posted by cruisetheworld View Post
I have a question for those of you that tithe what seems to be the acceptable 10% of net income.

Is this amount fully tax deductible? We give a few hundred dollars each year to our church but nowhere near 10% closer to 0.4% of net. The church sends us a letter detailing what we gave and this is an itemized deduction on Schedule A. Same for tithing?
Your Church 'tithing' is usually 100% eligible for deduction. Charitable contributions are not always 100% deductible, especially if you receive a 'premium' or any benefit.

sure... FULLY deductible if you qualify for Itemized vs the HUGE std deduction. ($12,600 for Married / joint)

but... it SELDOM makes sense to SPEND $10k to get a $500 - $1000 deduction (depending on tax rate)

IF you are in a yr where your tax scenarios are favorable to deductions, consider starting a Donor Advised Charitable Fund, that way, your contributions may out live YOU! and go to perpetuity,


I always give generously, but would not consider that I 'Tithe' (obligation).
I don't fill out the 'Annual commitment-forms', have never been a 'member' of a church, but am 'member of several public radio stations. I seek COMMUNITY non-profits (Including community owned Public Broadcasting, but generally I focus on community services to disabled / needy; education, and alternative energy / power / sustainable building and food security / distribution).

I am NOT fond of Corporate owned 'public broadcasting' / media entities, they don't get my $$$. (and they often try to 'Corporate RAID' community owned stations)

I was very pleased to see a blurb / POV podcast last week on educating girls in Afghanistan, We have been supporting that cause for 30 yrs. Many have given their lives to this effort. We also give quite a lot to rescue centers for victims of human trafficking.

As previously mentioned... your TIME and talent may be your greatest gift. Many great organizations and benefit have sprung from retirees / early retirees taking the first step. You can see evidence daily in the superb medical / world health efforts from Gates Foundation, and children's hospitals that came from benevolent funding from successful people. As I mentioned, my employer trained me... there are some nice medical and children's hospitals funded by the foundations of my employer.

Last edited by StealthRabbit; 11-18-2016 at 12:57 PM..
 
Old 11-18-2016, 12:35 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,168,437 times
Reputation: 6691
Regarding tax deductibility: At our church you attend Tithing settlement once a year in December, you go over your records of your contributions and make sure they match the churches records, they give you a form stating your contributions for the year..
This is the form you use to satisfy the IRS. Also the amount of tithing here is 10% of your gross. that does not include any separate contributions for other funds within the church such as missionary fund, building funds etc. though they are accounted for as well on the contributions form.
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