If you itemize your federal taxes, did you know that the IRS allows you to deduct $5,000 when you give it to your bank for your mortgage interest or to your church; these both legally lower your tax burden. Not having a mortgage does not necessarily mean you will pay more taxes.
As we turn the page of the calendar to February, our postman begins delivering to our homes all of the necessary tax documents we need to complete our yearly tax filing obligation. For most, this is a necessary and unpleasant task. But I would like to suggest that it’s a time to examine how we spend our money in light of tax saving benefit AND to the benefit of the God’s Kingdom.
I suspect that most of us haven’t connected the dots between receiving a tax benefit and giving to support the growth of God’s Kingdom, but we should. God has inspired such tax law and we should all be creating budgets that can support such objectives.
And so, in an encore performance sort of way, I encourage you to blend the thoughts presented in these past blogs and allow the Holy Spirit to inspire you to transform. Use the themes of these articles like ingredients of a recipe; one standing alone is okay but when it is blended with others, it becomes an enjoyable, satisfying meal.
Six of One, Half a Dozen of Another – having all of the ingredients
Benchmarking Your Budget – right proportions for all of the ingredients
Mine, Ours, or His? – where all of the ingredients come from
Kingdom Investments – a God-honoring goal of our financial blessing
To Give or Not to Give – Tax is the Question! – the personal benefit of our giving
When you let these ideas steep in your spirit, I suspect you will be transformed as I have been.
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