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5 Lessons On Gift Taxes from Oprah and Tom Brady

Originally posted on the Christian Post on March 10

To learn Biblical answers to your financial questions, you can #AskChuck @AskCrown your questions by clicking here. Questions used may be lightly edited for length or clarity.

Dear Chuck,

After the amazing Super Bowl victory of the New England Patriots and their quarterback Tom Brady, he said that he was going to give the truck he was going to get as MVP to James White for catching all those passes Brady sent his way in the nail-bitter of a game. He gave a previous truck for a Super Bowl win to Malcolm Butler, another teammate who played a great game. How easy is it to give a gift like that? Does the IRS get involved? (And where can I find a friend like that?!)

Just Curious

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Why You Should Keep Your Car Tank Half Full... All the Time

Alan Marcus, in an article at CostULessDirect.com, recommends keeping your tank at least half full at all times.

First of all, he says, if there’s ever a disaster in your area, the need to evacuate quickly, a pipeline break, or power outages, you will be able to drive for a while.

But he gives some other reasons. You are less likely to get stranded.

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We are all fighting a spiritual battle. But perhaps yours is even fiercer.

The U.S. military makes sacrifices every day. According to NBCnews.com, military families carry more debt and have fewer assets than civilians.

If you are one of those, Winnie Sun at Forbes.com offers several tips.

First, use your education benefits wisely. The GI bill is a perk that covers in-state tuition for up to 36 months and a limited dollar amount for private colleges for veterans. Although the benefits can be transferred to other family members, you may have to serve an extra 4 years. Research and request it early in your career.

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Do you care more about how long your car will last or how fast it will go?

According to AAA, 35% of the drivers in America have skipped or delayed a recommended service or repair. And, yet, the most effective way to keep repair costs down is to avoid them in the first place.

I’ve got a few tips for you.

Follow your owner’s manual for tasks like oil changes and tire rotations. Thankfully, newer vehicles are programmed with maintenance reminders. Just don’t ignore them. 

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Have your or your family experienced an unexpected expense in the past 12 months?

Jill Cornfield at Bankrate.com says the most common surprise expenses are related to vehicles, appliances, home-repairs, injury or
 illness. Unfortunately, nearly 6 in 10 Americans don’t have enough savings to cover an unexpected bill of $500.


This is a problem across our nation. When people pay with a credit card, the original expense can grow monumentally if not paid off at the end of the month due to high interest rates. Some turn to friends or family for help with the hope of paying them back. Others cut expenses in order to pay the bill.

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Is your car a “wealth slayer? It may be killing your financial freedom.

Jeff Rose, a contributor at Forbes wrote that Experian’s State of the Automotive Finance Study revealed that the average new car payment reached $499 per month last quarter with the average new car loan lasting 68 months.

People! Take a look at yourselves!

Jeff says if you purchase a new car at 25 with a $500 per month payment and traded it in at the end of each contract, over 30 years it would cost you $179,640.

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