Under the new tax law that became effective January 1, 2018, the standard deduction has increased to $12,000 for individuals, $24,000 for married couples. At the same time, many itemized deductions have been limited or eliminated altogether. This means fewer people will be itemizing their deductions and receiving a tax benefit from their charitable gifts.
“And now, behold, the LORD has kept me alive, just as he said, these forty-five years since the time that the LORD spoke this word to Moses, while Israel walked in the wilderness. And now, behold, I am this day eighty-five years old. I am still as strong today as I was the day that Moses sent me: my strength now is as my strength was then, for war and for going and coming.” Joshua 14: 11-12
Late in 2015, Congress passed a bill regarding “Qualified Charitable Distributions” that is of great benefit to many retirees. Here’s how it works:
If you’re age 70½ or older and own an IRA, you are familiar with the Required Minimum Distributions that must be taken from your account each year. These distributions are almost always taxable and, in fact, that’s the whole idea. According to the tax law, it’s time to start paying taxes on some of the money inside the IRA; money that has been tax-deferred for many years, perhaps even decades.
“I have set before you an open door.” This word to the church of Philadelphia in Rev. 3:7-8 has been ringing louder and louder in our ears. The church there has often been called the missionary church. It had been faithful to His Word. The believers had little power in their own right, but the Holy Spirit opened an opportunity to do great things in the Spirit.
by Ken Shirkey, Director of GCWM
The testimonies of the Lord’s faithfulness you have been reading about show what can happen when God’s people partner together to do more than each could do alone. When God’s people dwell together in unity, the Lord commands a blessing. –Ps 133: 1,3 Unity in itself, however, is not an end goal, but it is an essential element in our obtaining the full inheritance.
Two years ago a group of churches, ministries (including the Gateway Center) and business people formed to focus the resources of the Lexington, KY area for mission. That group led to a partnership with Issachar Initiative targeting 57 unengaged (no witness or scriptures) and unreached (less than 2% believers) people groups in Nepal. Here is a testimony of what the Lord has done:
Dauni (not her real name) heard the knock at the door and her whole body tensed. It was the police! She knew they were coming for her. She held her seven- month old baby in her arms and opened the door as she asked God to protect her. “Come with us,” the officers demanded. They immediately took her and her baby and put them in prison for preaching the Gospel to women in the streets.
One of the foundational principles of Gateway Center ministry is to equip leaders and help them find their place of ministry that flows with who God created them to be and then to release them to flourish and make their maximum impact for the Lord.