Bible Question (short): Borrowed money-neither income nor asset |
Question (full): Borrowed money-neither income nor asset MARK LYNN: You write: "i believe we should pay tithe on any money that comes to us even if borrowed." May I ask: How did you come to that conclusion? Borrowed money is neither income nor asset. We are not required to pay income tax on borrowed money because it is not income. It is not an asset because it does not increase our net worth. Instead, it is a liability. The reason it is a liability is that we have to PAY IT BACK. The fact is we are not required to pay tithes on our liabilities. Grace to you, kalos |