“Do not be unequally yoked with unbelievers. For what partnership has righteousness with lawlessness? Or what fellowship has light with darkness? - 2 Corinthians 6:14
That warning from the Apostle Paul is usually interpreted to mean that you shouldn’t marry outside the faith. But does it apply to other relationships just as much? Ron Blue joins us today with his practical and spiritual insights about partnerships.
Ron Blue is the co-founder of Kingdom Advisors and the author of many books on biblical finance, most notably “Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment.”
Understanding Partnerships Beyond Marriage
In 2 Corinthians, the Apostle Paul wasn’t just talking about marriage in his teachings; he was referring to all kinds of partnerships. Partnerships are prevalent in various professions, often seen in businesses with multiple partners and owners. These partnerships can last a long time.
Business partnerships, much like other types, require careful consideration and management.
Key Principles for Successful Partnerships
Here are a few key principles to consider:
- Protect Your Testimony: Being in a partnership with someone unequally yoked can impact your testimony. Only you and God can answer whether the partnership is worth the risk to your testimony.
- Have an Exit Strategy: Just like marriages, many partnerships end up dissolving. It's crucial to have an exit strategy in place before forming a partnership. This ensures that either party can exit the relationship equitably while maintaining their testimony.
- Preserve the Business’s Testimony: The business itself is often more critical than the individual founders. The goal is for the business’s mission and testimony to live beyond the partnership.
On Today’s Program, Rob Answers Listener Questions:
- My question is about the capital gains tax on the property my husband plans to sell in Georgia. He lived there for 19 years before we married in September 2022 and moved to Tennessee. He plans to sell the Georgia property, pay off the remainder of our house in Tennessee, and invest the rest. I want to know if there is a time limit for him to sell the property and invest the proceeds to avoid paying as much capital gains tax as possible.
- How much cash should I keep at home versus in a safe deposit box? I've heard that some people are now keeping a lot of cash at home, like $4,000 or $5,000, and I wonder if you would recommend that. I don't have a debit card or ATM access, so I would need to go to the bank to get cash if needed.
- My husband and I have several savings accounts that hardly earn any interest. We have about $18,000 total in these accounts. What would you recommend we do to get a better return on this money? I want to ensure the money is still easily accessible as an emergency fund, but I'd like to see it earning more interest if possible.
- My siblings and I have some farmland that we inherited when our dad passed away eight years ago. The sale of the farmland is getting close to being finalized. I wonder how my tax filing status will affect the capital gains taxes I must pay on the sale. I'm currently single but plan to get married this year. Will filing jointly with my spouse next year impact the capital gains taxes I owe on the farmland sale this year?
Resources Mentioned:
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