Does that sound right?
2007-02-12 13:36:45 · 17 answers · asked by just me 2 in Business & Finance ➔ Taxes ➔ United States
I'm a bit disappointed that you would pay tithes and now want them back. The Lord only expects you to give as you have been prospered. The 10% of your earnings was old testament law. The new testament law states give as you have been prospered. So, some people can give more than 10% and others just simply can not afford to give that much. I don't think it's written anywhere that you should try to get that money back. Do you remember the woman who gave only 2 pence? Others gave much much more but Jesus said to them that she gave more than all because her 2 pence was all she had. She gave 100% to the Lord and trusted God to take care of her. How much have you given? Is it so much that it has put you in a finacial bind? Trust in the Lord and give what you can, without expecting any return.
2007-02-12 13:44:39 · answer #1 · answered by Average Joe 3 · 1⤊ 0⤋
Not exactly - somebody left a lot out of the explanation, but they're probably correct.
Charitable contributions are deductible if and only if you itemize. Most people who don't own a house don't have enough in itemized deductions to itemize. You get what's called a "standard deduction" automatically, and don't have to prove anything to get it. If you can list actual deductible expenses more than that amount, then you "itemize" and take the total of your eligible expenses instead of the standard amount.
For someone who is filing as single, the standard deduction this year is $5150. So if you contributed $5500 to your church, then you'd itemize. But if your contributions, plus any other eligible deductions, was less than that, then you'd take the standard amount.
2007-02-12 21:48:07 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
I don't think that's right. Probably what they meant is you will have to have itemized deductions that beat the standard deduction, which is a sizeable chunk of change, approximately 5200 dollars for a single person. Owning a home is where a lot of people get their deductions, and this is probably what they meant. The last time the IRS had a separate line to deduct donations in addition to the standard deduction was back in the 1980's.
2007-02-12 21:45:43 · answer #3 · answered by quillologist 5 · 0⤊ 1⤋
Tithes paid to a church have nothing to do with your home. They are fully deductible and fall under the category of charitable contributions. Who is they? Your tax consultant? Then hire another one!
2007-02-12 21:40:45 · answer #4 · answered by fair blue 5 · 0⤊ 1⤋
No, that doesn't sound right.
Yes, you can deduct tithes from your taxes: they're considered to be charitable donations. Your church should have given you a form to help fill out your taxes with. You'll have to itemize though - it can't be done on the EZ form.
2007-02-12 21:39:47 · answer #5 · answered by They call me ... Trixie. 7 · 1⤊ 1⤋
Any monetary contribution to a church is100% tax deductable. In fact it is the only donation that is penny for penny tax deductable any more. Your church is required by law to provide you with a statement of your contributions by January 31 each year. Unless you foolishly gave cash and received no receipt, then you are out of luck. It has absolutely nothing to do with your status as a homeowner.
2007-02-12 22:28:50 · answer #6 · answered by stevieray 4 · 0⤊ 2⤋
Charitable donations can only be used as a deduction if you can itimitze more than what your standard deduciton is. Some people who own their own home do itimize just because of the amount of interest they pay.
I think when people ask for a donation and are so kind to remind you that it is 'tax deductable' they should also be so kind to tell you 'only if you itimize'.
2007-02-12 21:41:46 · answer #7 · answered by ~Just A Girl~ 3 · 1⤊ 1⤋
Whoever they is may have been referring to the fact that you may not have had enough to meet the mininum standard deduction which is $10,300 for joint filers. Home ownership offers a better chance of meeting that standard due to the interest paid. Any good tax person will calculate it both ways to determine which is the best way to go.
2007-02-12 21:47:40 · answer #8 · answered by Mike 1 · 1⤊ 1⤋
If you do not take the standard deduction, donations to the church are tax deductible, but you have to have your church treasurer give you a receipt.
2007-02-12 21:47:19 · answer #9 · answered by webb1socoolguy 3 · 1⤊ 1⤋
that sounds wrong, you can claim it if you do itemized deductions, but just know it may not make a difference unless you gave over a certain amount
2007-02-12 21:41:13 · answer #10 · answered by kittymimm 3 · 0⤊ 1⤋