DID YOU KNOW YOU CAN GIVE AND GAIN?
PRESIDENT GEORGE WASHINGTON "The Commander in Chief directs that divine services be performed every Sunday at 11 o'clock in those brigades in which there are chaplains; those which have none, are to attend the places of worship nearest to them. It is expected that Officers of all Ranks will by their attendance set the example to their men. While we are zealously performing the duties of good citizens and soldiers, we certain ly ought not to be inattentive to the higher duties of religion. To the dis tinguished character of Patriot, it should be our highest glory to add the more notable character of Christian. The signal instances of providential goodness which we have now almost crowned our labors with complete suc cess, demand from us in a peculiar manner the warmest returns of grati tude and piety to the Supreme Au thor of all good."
Assume that you bought stocks in recent years at a cost of $1000.00.
By reason of inflation, etc., they are now worth $3000.00,
It the stocks are sold, the profit of $2000.00 (difference between the above $3000.00 present value and the $1000.00 cost) would be faxed at capital gain rates running up to 25% or $500.00 on this profit.
B ¿olaPeceipt / 3 0 0 0 - NOTAX _
If the stocks instead are given to Biela, a Christian organization, then the donor's income fax deduction is the entire current value of the property, $3000.00, even though his cost was only $1000.00.
The law allows this liberal result I r order to encourage contributions. The doner is excused from paying tax on the above gain of $2000.00 and his reward is a $3000.00 income tax deduction even though the property cost him only $1000.00. (The same rule would apply to any property, ter example, land, jewelry, etc. which had increased in value.)
PRESIDENT ABRAHAM LINCOLN Abraham Lincoln as a boy loved books. He said, "The things I want to know are in books; my best friend is the man who'll get me a book I haven't read." Not only did Lincoln love books, but he loved God's Book, the Bible. Like Abraham Lincoln, we should make friends of good books, espe cially of God's Book. For God's Word will do for us what it did for Abra ham Lincoln and the boy Timothy to whom Paul wrote, "And that from a child thou hast know the holy scriptures, which are able to make thee wise unto salvation through faith which is in Christ Jesus."
STEWARDSHIP DEPARTMENT The Bible Institute of Los Angeles, Inc. 558 South Hope Street Los Angeles T7, California □ I airr interested in more information about Biola and its diversified ministries. Q I* would like to know more about how I can give to Biola and gain tax reductions. NAME .......................„................................................................................................................ ADDRESS .................................................................................................................;.................... C IT Y ........................................................................... STATE ....................................................
FEBRUARY, 1963
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