A young married couple has a combined taxable (pre-tax) income of $159,000 & has purposed to tithe 10% of that gross taxable income to their church. Their marginal tax rate is 22%.
Years ago they invested $10,000 in a his & her's discount brokerage account which has now gained $5,900 for a total value of $15,900 which is the exact amount they want to tithe.
Upon learning about titheOnomics from a friend, they decided to use the free calculator.
Years ago they invested $10,000 in a his & her's discount brokerage account which has now gained $5,900 for a total value of $15,900 which is the exact amount they want to tithe.
Upon learning about titheOnomics from a friend, they decided to use the free calculator.
Their total pre-tax income goes here >>>
Their current investment value goes here >>>
Their original investment value goes here >>>
Instantly, they saw their results
They had never realized before that the government's tax impact on their simply gifting to their church was so high... $4,485!
Knowing that $20,385 had to be earned just to pay for their tithe, they looked at the next screen which factored in the investment gains they had earned by prudently saving and investing over the years.
To their amazement, they learned that not only could their not-for-profit church receive their profit without paying any tax, they are allowed to skip paying the long term capital gains tax + enjoy a sizable tax deduction which lowered their net cost.
To their amazement, they learned that not only could their not-for-profit church receive their profit without paying any tax, they are allowed to skip paying the long term capital gains tax + enjoy a sizable tax deduction which lowered their net cost.
The net-effect is, though it generally takes several years- and not weeks or months- they plan to rethink how they give and plan to be in a position to replace all of their giving with profits only (T.O.P. tithe only profits) in the years to come.
Use this free QR code to see how you stand! >>>