08-08-2008, 09:19 PM | #1 |
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Tithing on taxable income
The tithing on gross vs net discussions are common. Can anyone make a case for paying tithing on your "taxable income" figure? If so, I am all ears...
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08-08-2008, 09:20 PM | #2 |
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After this site has already justified wearing colored shirts to sacrament and gay marriage, do you think rationalizing taxable income as your tithing basis is all that difficult or risque?
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08-08-2008, 09:30 PM | #3 |
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Do you mean paying tithing on your net pay?
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08-08-2008, 09:45 PM | #4 |
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You'd get a circular reference if you tried to compute it, because the amount of your tithing payment affects your taxable income.
Taxable Income = Income - Deductions Deductions = f(Tithing) Tithing = (Taxable Income)*0.10 Tithing = (Income - f(Tithing))*0.10
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08-08-2008, 09:46 PM | #5 | |
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08-08-2008, 10:00 PM | #6 |
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If I can get the go ahead, I'm sure I could set up an iteration to come up with an equilibrium on this.
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08-08-2008, 10:04 PM | #7 | |
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08-08-2008, 10:09 PM | #8 | |
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08-08-2008, 10:17 PM | #9 | |
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Quote:
Tithing = Income*.0909
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08-09-2008, 01:07 AM | #10 | |
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From my perspective, I feel one could easily justify removing any 401k contributions from one's "tithable" income. I also feel it is pretty easy to justify remove the non-medicare part of the social security deduction from "tithable" income, as well. 'Course, many of us find it easy to justify paying whatever tithing we decide we want to pay... More fun for me this year is that I lost $30k on the house we sold earlier this year - if I pay tithing when I make money on investments, shouldn't I be able to subtract losses from my tithing check as well? |
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