Dec 25, 2017
5:29:29am
5:29:29am
It is if doubling down gets you over $24K
Example:
Your deductions total $18,000 and your tithing is $10,000.
Instead of paying $18 and $18 ($36 total for two years where you take the standard $24 and $24, or $48) you double down on tithing and instead it is $28 and $8, but year two you still get the standard $24, so your two year total is $28 plus $24 or $52 - $4 more than the standard $24 X 2 or $48.
With the standard deduction being $12,700 this year, it provides a much greater opportunity to double down but it still exists in the future. People's income will increase as will their itemized deduction amounts. Low hanging fruit to harvest...
Your deductions total $18,000 and your tithing is $10,000.
Instead of paying $18 and $18 ($36 total for two years where you take the standard $24 and $24, or $48) you double down on tithing and instead it is $28 and $8, but year two you still get the standard $24, so your two year total is $28 plus $24 or $52 - $4 more than the standard $24 X 2 or $48.
With the standard deduction being $12,700 this year, it provides a much greater opportunity to double down but it still exists in the future. People's income will increase as will their itemized deduction amounts. Low hanging fruit to harvest...
Originally posted on Dec 25, 2017 at 5:29:29am
Message modified by Acorn on Dec 25, 2017 at 5:31:26am
Message modified by Acorn on Dec 25, 2017 at 5:58:36am
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