Crazy Money! Giving Impacts Your Tax Liability

It’s Crazy Money Day!

The federal government collected a record $2.6 trillion of income taxes in 2022. Now there are several reasons why. First, people were paid more although many didn’t feel like it due to inflation. Second, temporary pandemic policies ended, like those that allowed employers to defer paying payroll taxes. Now you can reduce your income tax liability in several ways. Max out your 401(k) or 403(b) contributions this year. Also, max out your Health Savings Account. And finally, max out your charitable giving. Jesus said to render unto Caesar what is Caesar’s. In other words, pay the government what you owe, but He also said, “It is more blessed to give than to receive.” (Acts 20:35)

Thankfully, we live in a country where the financial support of kingdom work has tax advantages. So, give generously and take joy in making an eternal impact. Year-end donations made before midnight on December 31st will benefit both you and those you support. Every December, my wife, Ann, and I total our yearly giving. Then, we determine how much more we can give to advance the Kingdom. We also donate goods to charity. Sometimes we pass on items to those who need them or donate to organizations. Stewarding what God provides enables us to give more and to save on taxes. Be crazy generous this year! Remember this station and the programming they provide to you each and every day. 

Now through December 31, every gift to Crown will be doubled through a matching challenge. In appreciation, I’ll send you my newest book “Freedom from Poverty and Riches” as soon as it’s available. It is an exciting account of Crown’s global ministry. Just visit crown.org to give and request your copy today.