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Dinar Rumor Information for tithers and givers!


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I have never started a thread before but after posting this several times, felt like it needed it own thread. For the bashers and downers who read this, be gentle. I have worked at my church for over 10 years and have seen this done many times.

If you have stocks or in this case dinar, and you are planing to cash it in to pay your tithe, don't. When you cash it in, whether it is a stock or dinar or whatever investment you have, you pay taxes. If you take the tithe or the amount you want to give from the actual stock/dinar you are holding, then you will not pay any tax on it. As long as you are giving to a 501C3 tax exempt organization, they will not pay any tax and neither will you. They will be able to cash it in just as you would and will send you a statement at the end of the year with the amount they received from the sale. You then put that amount on the schedule A (itemized deductions) under gifts to charities and thus reduce your taxes! Everyone wins except the IRS!

We have several retired people at our church who do this annually. They give in stocks so that their income is not increased by cashing them in but they still get the tax benefit and it does not affect their retirement income.

For those who have asked if you should tithe on the net or the gross, I just have one question. Do you want to be blessed on the net amount or the gross? I personally want the FULL blessings that God has for me! Something to think about.

Hope this helps. God bless you all.

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I was considering the option of giving the dinars directly myself. Sounds like it would be a viable way to get the most money to where it needs to be to do the work!

I have pastor friends in Jamaica and Guyana that I want to give to also. Wonder if the strategy of directly donating dinars would work for them too?? Don't know what the tax structure is like for charities in those countries...

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Newday2009 Most pastors overseas and missionaries are connected with an org like SIM or Southern Baptist Mission Board who are a 501c3 and forward the money to them. They would be able to cash it in. Or some pastors/evangelists are set up as a 501c3 themselves. Just be sure you ask them who to it to.

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I live in Canada and planned to give IQD to my church and simply assist them in the conversion of the currency. There is no tax component for either party.

I also intend to make major puchases where I will get the vendor to invoice me in IQD. That transaction also will have no tax component for either party. I reviewed this with Revenue Canada and it was verified as having no basis for any taxation.

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Newday2009 Most pastors overseas and missionaries are connected with an org like SIM or Southern Baptist Mission Board who are a 501c3 and forward the money to them. They would be able to cash it in. Or some pastors/evangelists are set up as a 501c3 themselves. Just be sure you ask them who to it to.

Thanks, pegsue. I'll check it out...

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For those who have asked if you should tithe on the net or the gross, I just have one question. Do you want to be blessed on the net amount or the gross? I personally want the FULL blessings that God has for me! Something to think about.

Hope this helps. God bless you all.

Ha! It's not even a question. Reminds me of an old church sign: "Give God what's right, not what's left."

I'll take all of the blessing God has for me, so I can at least tithe - a minimum standard, BTW - on the full amount. To me the tithe is just a bill, although one that takes precedence over all others. The real joy comes in giving, which I see as everything above that minimum 10%.

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I have never started a thread before but after posting this several times, felt like it needed it own thread. For the bashers and downers who read this, be gentle. I have worked at my church for over 10 years and have seen this done many times.

If you have stocks or in this case dinar, and you are planing to cash it in to pay your tithe, don't. When you cash it in, whether it is a stock or dinar or whatever investment you have, you pay taxes. If you take the tithe or the amount you want to give from the actual stock/dinar you are holding, then you will not pay any tax on it. As long as you are giving to a 501C3 tax exempt organization, they will not pay any tax and neither will you. They will be able to cash it in just as you would and will send you a statement at the end of the year with the amount they received from the sale. You then put that amount on the schedule A (itemized deductions) under gifts to charities and thus reduce your taxes! Everyone wins except the IRS!

We have several retired people at our church who do this annually. They give in stocks so that their income is not increased by cashing them in but they still get the tax benefit and it does not affect their retirement income.

For those who have asked if you should tithe on the net or the gross, I just have one question. Do you want to be blessed on the net amount or the gross? I personally want the FULL blessings that God has for me! Something to think about.

Hope this helps. God bless you all.

i hadnt thought about doin it that way thats a good idea

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