I am hoping
that the following terrific and timely article (less than 48 hours to pay your
taxes!) will help you think through how handling your money is an important
spiritual exercise. God bless,
Jeff
“Feeling
anxious about your tax liability and government’s ever-increasing share of
your income? The Bible has many references to taxes that will sound
strangely relevant at this time of year . . . . beginning with the story of
David and Goliath,” observed Crown CEO Chuck Bentley in an op-ed piece titled
“Even Jesus Had a Tax Man” at USA
Today in advance of the
April 15th IRS deadline for federal taxes.
“Many
remember a teenage boy offended by insults thrown by a giant foe against his
nation and God himself, who volunteers to go into battle with a slingshot. But
did you know that a tax incentive was part of his prize? Visiting the
battlefield, David learns: “The king will give great wealth to the man who
kills (Goliath) . . . . and will exempt his family from taxes in Israel.”
That’s a prize many in the military would enjoy.
Throughout
the scripture, tax discussions mark many passages, as ancient men and women also
worried about how they would pay. Bentley observed that while Jesus himself
noted that while sometimes the authority to tax can be abused, paying taxes is
part of life.
For
people of faith, a healthy respect for reasonable taxes is part of faith-based
culture. Writing in Romans
13, the Apostle Paul urged
respect for government, because of the vital role leaders play in society, an
admonition that goes beyond mere money.
“Such
a standard requires civil interaction and mutual respect, important reminders
for today’s toxic political culture,” noted Bentley. “And every IRS agent
can take comfort in the fact that Jesus himself had a taxman
(Matthew) as a disciple.”
Still,
the growth in tax rates is cause for concern. While a 10%
tithe to the church has been
the standard for personal giving, today’s current tax bite can be about
50%, when taking into
account Federal, social security, state, local property, corporate, excise, and
other state and local taxes. Remember, Pharaoh only took
20% of the grain in Egypt as
a form of taxation during their good years.
“It’s
worth debating whether the state should take such a large bite out of
families’ resources,” observed Bentley.
And
for those fortunate enough to get a tax refund, Bentley says put the money to
good use following these 7 tips making the most of your opportunity:
- Be charitable: Remember those in need. Yes, you’re getting ready with a tax deduction for next year, but people today could use your help.
- Give yourself some credit. Pay down debt and raise your credit rating!
- Build an emergency savings fund. Get ready for your next car emergency, health scare or home repair by preparing now.
- Go 50-50. If you can’t bring yourself to save it all, put half away and feel less guilty enjoying the rest.
- Consider the kids. If you haven’t started a fund for their college education, today is a good day.
- Think Retirement. The average return of $3,183 is more than half the maximum yearly contribution of a Roth IRA ($6,000 if age 50 and over.)
- Treat yourself: Do something fun . . . . with a clear conscience because you know that whatever good choice you made for your future, you made a good plan for your entertainment today.
#####
Crown,
a non-profit, empowers people with biblical financial understanding that changes
lives, businesses and the world. Theirs is a strong, international grassroots
organization with offices in the U.S. and overseas. It is well known for its
cutting edge materials first developed by its founder, the late Larry Burkett.
For more information contact Crown Associate, Ed Samuel at
esamuel@samnovainc.com
or call him on his cell at
484-340-0211 For further information, go to www.crown.org.
For more:
follow on Twitter @jefflampl
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