Look to Biblically Responsible IRAs and Ministry Giving to Lessen Your 2020 Tax Burden
Timothy Plan Identifies God-Honoring Investments for Christians Worldwide
ORLANDO, Fla.—For a quarter of a century, Timothy Plan has lived by and promoted biblically responsible investing (BRI), allowing clients to invest in a way that aligns with both their values and retirement goals. A foundational principle is that God owns everything, and Timothy Plan leaders are firmly committed to managing a mutual fund company with the integrity, excellence and wisdom that brings honor and glory to the Lord.
“Since the Tax Cuts and Jobs Act passed in late 2017, Americans have seen more money in their paychecks,” said Timothy Plan founder Art Ally. “However, for some, extra taxes may not have been deducted on a regular basis, so the refund may have been a bit lower. But in the first tax season since the reform, most Americans are still seeing the benefits—and this is great news for families and investors at any income level.”
Financial outlets reported last month that about five weeks into the tax filing season, refunds were up an average of about $22 over last year.
Ally added that another element to consider is that, for many, charitable donations are not itemized as they once were.
“We pray that those who give to charities do so because they want to further that organization’s mission and the good work they are doing for the Kingdom, rather than for the tax benefit,” he said. “It would be very unfortunate if charitable donations to nonprofits or churches dropped because of the new tax code. Our resources are God’s to begin with, and we are charged to responsibly further His work here on Earth through our giving.”
Saving into a traditional or Roth IRA is also a good move, Ally continued, and many Americans may not know they can contribute to an IRA by April l5, 2019, and still have these funds eligible to be counted as 2018 contributions.
Additionally, through its subscription to the one-of-a-kind eVALUEator, Timothy Plan uses this biblically based dynamic and moral investment screening tool to reveal immoral corporate activity. When Christian investors have this tool, they can rest easy even in times of market unrest, such as the present, because they know they are honoring God with their money and possessions. Using eVALUEator, Timothy Plan screens companies and mutual funds to avoid owning those firms that are actively involved in or profiting from immoral practices such as abortion, pornography and other anti-family causes.
Mutual funds are available through a prospectus (Timothy Plan Prospectus) by contacting the fund or a financial professional. When considering a mutual fund, investors should always carefully read the prospectus before investing to analyze the investment objectives, risks, charges and expenses.
Timothy Plan is distributed by Timothy Partners, LTD., a member of FINRA.