How to Calculate Tithes
29 SEP 2017
Some people of faith give a percentage of their income, known as a tithe, to their local church. They believe that giving the church a portion of their income is a way of honoring God with their substance or finances. The tithe is then used by the local church to pay for the daily operations of the church. The tithe is different from an offering. Tithes are a specific percentage of your income you have committed to God. An offering is not prescribed as a certain amount. The first record of giving tithes is found in the Christian bible in the book of Genesis. The Jewish patriarch, Abraham, gave his tithe to a priest of God called Melchizedek. The amount Abraham gave was recorded as ten percent of his worth. Today, some Christians give ten percent of their weekly income.
Collect all your income statements from the past month or week. That should include paycheck stubs, dividend statements, capital gains statements and records of bonuses. Some people choose not to include tax-deferred retirement funds when calculating their tithe, preferring to tithe on those funds when they retire and begin using them.
Look at your pay stubs to find the amount of your gross income. This is the amount you are paid before taxes are withheld. Enter that amount into the calculator.
Look at any other income statements. Enter the total income you earned the past week or month into the calculator.
Add any cash bonuses, cash gifts or other money you received this week.
Take the total of all your sources of income and divide it by 10. Write down that amount. Write your tithe check for the amount on your calculator display.
Visit your local church and place your check inside a tithing envelope. Record your name and amount on the outside of the envelope. In order to claim your tithes as a tax deduction you must record the information on the tithing envelope.