AMT changes things a lot. I'm at 28% this year, higher next year but I'll deduct

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Dec 25, 2017
2:19:06pm

jvquarterback Walk-on

A lot more next year because I can take at least part of my local taxes and interest on student loans and mortgage.

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jvquarterback

Bio page: jvquarterback
Joined: Jun 10, 2011
Last login: Apr 25, 2024
Total posts: 6,566 (36 FO)

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Messages

Author

Time

Public Service Announcement: Should you double tithing? Second Attempt

Acorn

12/25/17 5:11am

it's not really a repeat thing if you're itemized deductions are under $25K,

rggee

12/25/17 5:25am

It is if doubling down gets you over $24K

Acorn

12/25/17 5:29am

I'd probably have to triple it....

rggee

12/25/17 5:31am

In your future, your income will rise

Acorn

12/25/17 5:33am

If you itemize more than $24K does this help?

8-track

12/25/17 6:20am

It can,especially if it causes your itemized deductions to dip below 24k in 2018

BYUCPA

12/25/17 6:44am

If you have $10k in SALT deductions and $14k in mortgage deductions next year

Submariner

12/25/17 6:59am

Actually at 10 and 14, there is no benefit. For every 1K under $24K

Acorn

12/25/17 7:18am

I think everyone's marginal tax bracket drops a few percent next year, so there

Submariner

12/25/17 7:34am

AMT changes things a lot. I'm at 28% this year, higher next year but I'll deduct

jvquarterback

12/25/17 2:19pm

Does the double tithing payment need to be recorded at Church HQ

Uncle Bluto

12/25/17 8:26am

No grace period on donations

supertux

12/25/17 8:30am

Yep, this is something to get the word out on. For those in the right situation - you could be saving 25% or 28%, etc

Zenoch

12/25/17 9:34am

Is there a possible downside to prepaying?

HoustonCougar

12/25/17 2:05pm

Two come to mind

Acorn

12/25/17 2:10pm

Another: Any donation to the Church is irrevocable. If someone got laid off, health issue, etc and doesn't have the

Zenoch

12/25/17 2:20pm

That happened to me. Never considered it a downside.

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