Tithing contribution frequency

[wally]

Piggybacking on the on the previous and wildly successful tithing topic, what is everyone’s practice on tithing payment frequency?

I pay either sporadically (whenever I remember) or in one or two lump sums. I have an account set aside that I only use for tithing, so payment usually coincides with when I remember to bring that checkbook to church.

When I lived in one of the mullah provinces in Utah, we had a SP tell us that we should be paying monthly at a minimum. I did my best to remember, but still only paid my full tithe in 5 installments that year.

Also, does anybody else have a "thou shalt pay monthly" experience?

[creekster]

We pay once a year. No one has ever seriously quesitoned it, although one leader told me it was easier to pay more often. I disagree. I do it this way and I have my wife wirte the check while I sit there and smile so I can try to do it all with a good attitude.

[happyone]

I normally pay the Sunday after payday - if I don't I spend it

I'm getting to the point were I'm toying with the idea of paying every other year for tax purposes - Anybody else heard of this?

[pellegrino]

I normally pay the Sunday after payday - if I don't I spend it

I'm getting to the point were I'm toying with the idea of paying every other year for tax purposes - Anybody else heard of this?

how would that benefit you for tax purposes, and what do you tell your bishop when you go in for tithing settlement on an off year?

[Levin]

As a poor student, I would pay monthly. Now that I have a real income, I pay less frequently, about three times a year.

This highlights an inequity I've thought a lot about. Those who stretch to make ends meet often have to make bone-chilling choices each month between paying the rent and paying tithing. Each month is a test of faith for them. And I think the Church teaches, at least through its anecdotes, that the person should have faith and pay tithing before rent.

But for the more decadent, it seems we have the luxury of deciding when to pay tithing. Tithing v. rent isn't a choice we have to make, and so it seems many of us wait to pay tithing until the end of the year.

A person living food stamps to food stamps doesn't seem to have that option.

(I'm not talking about the freeloading WICers having bling-wearing Medicaid babies!)

[TheBYUGuy]

I normally pay the Sunday after payday - if I don't I spend it

I'm getting to the point were I'm toying with the idea of paying every other year for tax purposes - Anybody else heard of this?

I pay tithing every other year. When I asked my then bishop about it a few years back, he said, "You know, Brother Guy, I think that is a great idea. In fact that's what I do." Then he told me a story about the experience of him and wife.

Last year, when I went in for settlement, my (new) bishop was confused at the '0' on the sheet, even though I told him the previous year what I was doing. I guess with 400 people in the ward, he doesn't remember everyone's tithing practices. At any rate, he marked me as a full payer.

[creekster]

I pay tithing every other year. When I asked my then bishop about it a few years back, he said, "You know, Brother Guy, I think that is a great idea. In fact that's what I do." Then he told me a story about the experience of him and wife.

Last year, when I went in for settlement, my (new) bishop was confused at the '0' on the sheet, even though I told him the previous year what I was doing. I guess with 400 people in the ward, he doesn't remember everyone's tithing practices. At any rate, he marked me as a full payer.

why do you pay it every other year?

[Levin]

I pay tithing every other year. When I asked my then bishop about it a few years back, he said, "You know, Brother Guy, I think that is a great idea. In fact that's what I do." Then he told me a story about the experience of him and wife.

Last year, when I went in for settlement, my (new) bishop was confused at the '0' on the sheet, even though I told him the previous year what I was doing. I guess with 400 people in the ward, he doesn't remember everyone's tithing practices. At any rate, he marked me as a full payer.

Can you lay out for me the tax benefits of doing this?

[happyone]

how would that benefit you for tax purposes, and what do you tell your bishop when you go in for tithing settlement on an off year?

Itemizing - one year you would itemize the other take the standard deduction. After this year I won't have a mortgage deduction

I'm not sure what to tell the bishop - maybe just skip Tithing Settlement every other year

[TheBYUGuy]

how would that benefit you for tax purposes, and what do you tell your bishop when you go in for tithing settlement on an off year?

The idea is that you pay a ton of tithing in one year to get a nice deduction for chartitable contributions, and then take the standard deduction in the off year. I don't know how much the standard deduction is exactly (it's around $10K), but here's the math if you pay $10K in tithing:

Every other year:

Year 1: $20K in charitable contribution deduction
Year 2: $10K standard deduction

=Total of $30K deductions for 2 years

If you pay tithing every year:

Year 1: $10K charitable contribution
Year 2: $10K charitable contribution

=Total of $20K deductions for 2 years

ADD: So in this example, if you have a tax rate of 25%, you pay $2500 less in taxes over the 2 years.

[TheBYUGuy]

By the way, if you pay enough mortgage interest and other expenses that would put you over the standard deduction amount every year, I don't know of a benefit to paying tithing every other year.

In my case, it is a no-brainer. If you pay $1000/month in mortgage interest, this doesn't really help you.

[kccougar]

I would like to pay monthly or even every 2 weeks, but I rarely remember to do it and generally end up paying tithing in about 5-6 installments through the year. I contribute my fast offerings at the same time.

[MarkGrace]

I pay either sporadically (whenever I remember) or in one or two lump sums. I have an account set aside that I only use for tithing, so payment usually coincides with when I remember to bring that checkbook to church.

You know, this is a pretty good idea. I had never thought about it, but tithing is getting to be a pretty decent sized monthly expense in our house, so maybe I should set up an account to place all my tithing in for the year. That way I can make some interest on the amount over the course of the year and then just pay it all at the end of the year but keep the interest (after tithing, of course ).

[Moliere]

I pay sporadically. In fact, I haven't paid in over 5 months but I keep meaning to do it. I usually make some estimated payments and then in November I true it up through the entire year with one (relatively) big check.

I've seen people pay every week, twice a month, and once a year. I've never seen anyone pay every other year (like BYUGUY) but I understand that it would make sense for him and I would do it as well if it would help me reduce my taxes.

[Indy Coug]

I pay every 5 years in advance.