Friday, February 19, 2010

Where's Your Treasure (and your heart)?

It's tax time again. I like to get my tax return filled out as soon as I can so I know where I stand, either getting a refund or owing more the the IRS. (No, this isn't going to be a rant about taxes, so please, if your dander got up, let it go back down. That rant will be saved ofr anothre post.) I've used the same software every year but one for the past decade or so to complete my return. When it is done they show me a nifty comparison of my return in relation to others in my income range. I'm not going to tell you all the specific numbers. But something really stood out to me when compared to those in my income range.

In the range, my income was in the bottom 5%.

National Average (NA from here forward) gross income was 269% of mine.

NA taxable income was 192% of mine.

NA adjusted gross income was 132% of mine.

Here's what I found interesting in light of the above income differences:

My charitable contributions were 14% of my AGI & gross income and 28% of my taxable income.
NA charitable contribution were 1.4% of gross earnings, 2.8% of their AGI and 3.8% of their taxabe income.

In real dollars, my charitable giving was in the neighborhood of $11,000 more than the NA for my income range, and I'm waaaaaaay on the low end of that range.

It made me think about something a great, authortative teacher from a couple thousand years ago once taught to his followers. "For where your treasure is, there your heart will be also."

What does where you've been spending your treasure have to say about the position of your heart?

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