Sharpen Your Financial Strength
April 7, 2012
How are you living in 2012?
September 10, 2012

Today we deal with why the Bible so strongly discusses taxes and why tax refunds may not be the best thing for a person.

Question – Why do we pay taxes and what does the Bible say?
Some say that Jesus sat the precedent of paying temple taxes via the way of a fish. This is true. Paul brings clarification of the Christian duty in the area of government and taxes in Romans 13:1-7. He exhorts us to pay taxes to governmental authorities if we owe (Romans 13:6). Paul clarifies it is our duty to submit ourselves to the governmental authorities because the authority has been established by God regardless the political party. By rebelling against authority we ultimately rebel against God (Romans 13:1-2). The governmental authorities are held accountable for their actions because they are God’s servants (Romans 13:4). They are in position to ensure us as taxpayers a peaceful and equitable society.

There will always be a debate on how much tax to pay; we can take every legal tax deduction that the government allows. If we follow our responsibilities in this passage, our Heavenly Father will ensure that we will pay the right amount of taxes without it being a burdened to us. The same as Jesus did from the fish mouth. Jesus says in Luke 20:25 Render therefore unto Caesar the things which be Caesar’s, and unto God the things which be God’s.

Question – What do some receive tax refunds and others don’t?
The reason why some received a tax refund is that they were paying more than their fair share of taxes to the government. The fact that you paid more to them means that you used less of your money during the year. The average tax refund for 2011 was $2900. This is averages to a little more than $240 per month that you could have brought home in your check. The goal is to pay your fair share of tax and not get a substantial check at the end of the year.

The key point is to take control of your money. So the step that one may want to take in the upcoming year is to work with a tax advisor or accountant to ensure the big refunds are limited. Adjusting withholdings on your W4 will help; this will ensure that money is maximized throughout the year rather than later.

Make it a great day!

P.S. Cedric Dukes is the author of Hostile Takeover – Manifesting God’s Plan and Purpose for Your Finances and newly released book, The Power of Time. Purchase of The Power of Time can be made at www.amazon.com. Encourage your friends and family by sharing this column and invite others to ask questions about their money. Send questions to cedricdukes@gmail.com

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