Biblical Advice on Tax Season, Handling Money
Financial Planner Ron Blue Finds Answers in the Scriptures
April 14, 2012 - With tax deadline just days away (April 17), and many scrambling to find their receipts and finish their 1040 forms, check out this Q & A with Ron Blue, who has 40-plus years of Biblical financial planning experience.
"The earth is the LORD’s, and everything in it, the world, and all who live in it."
— Psalm 24:1
By Trevor Freeze
In 1979, Ron Blue asked a revolutionary question: Why don't Christians give more?
That was followed with a big idea: What would happen if Christians handled their money Biblically?
"My objective was to help Christians plan and manage their money so they would have more money to give away," Blue said.
His financial planning firm was a success by both earthly and eternal standards and by the time Blue retired in 2003, his firm managed more than $2 billion in assets with over 5,000 clients, who were giving away millions.
The author of 17 financial planning books, with over 40 years of experience, Blue started Kingdom Advisors, an international effort to equip and motivate Christian financial professionals.
With the 2012 tax deadline (April 17 this year) right around the corner, Blue shares many insights on paying taxes as well as Biblical principles on money.
Should Christians Pay Taxes? "First of all, Jesus said render unto Caesar what is Caesar's. So He established the principle that you do pay taxes. That's an important principle to accept. So many people really resist taxes and are angry about taxes. But as believers we are commanded to pay taxes."
How Can Christians Prepare for Tax Season? "The biggest thing I find around taxes is April 15 seems to surprise people. The thing that Christians can do is to be like the ant. Store up for the future. You know taxes are going to come. Store up for them so you're not surprised. There's nothing sinful about taxes. You may not like how they're used, but taxes by themselves are not sinful."
What If You Feel You are Paying Too Much in Taxes? "I tell people living in this country who are living in the tax bracket at the highest level of 35 percent. We're one of the lowest in the world in terms of tax brackets. If you want to reduce your taxes, it's really easy. You just reduce you're income. It works every time, but obviously people don't want to do that. The point is we don't pay 100 percent in taxes, so they need to be paid with joy because they represent God's blessing of an income. And paid with planning so that there's no surprise."
How Much Does the Bible Talk about Money? "The Bible has over 2,300 verses that deal with money and money management. What the Bible does is gives principles primarily."
How Much is Enough? "Hebrew 13:5 says be content with what you have. If you don't set that finish line, you'll never stop. How much is enough? That verse answers it: What I have. More is not going to make me content, less is not going to make me content. Be content with what you have."
What are Some Examples of Biblical Principles? "Owe no man anything except love is a principle. The wicked man borrows and does not repay is a principle. The borrower becomes a the lender's slave is a principle."
Do Biblical Principles Work on Wall Street? "The firm that I built manages accounts up to several hundred million and it's all built on Biblical principles and they work on Wall Street. When they use Biblical principles they use good advice. The problem is they don't even know where it came from."
Best Advice You Would Give A Christian about Money? "The absolute critical piece when it comes to understanding finances is to come to grips with the reality that God owns it all. Read 1 Chronicles 29 11-12 and Psalm 24:1. He is the creator. He doesn't need my money. But He does desire my heart."
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