Cash Gifts to Employees

Cash Gifts to Employees

Issue Cash gifts to employees at Christmas – or anytime during the year – are taxable to the employee, require payroll taxes to be paid, and are includable on Form W-2. Situation Marathon Bible College (MBC) is a private college exempt under Internal Revenue...
2016 Form W-2 Reporting “Highlights”

2016 Form W-2 Reporting “Highlights”

Issue We continue to hear from higher education institutions with questions about several W-2 issues – foremost are health coverage reporting and the new deadlines.  This “Tax Tips” should serve as a “heads up” on both of those issues. Situation Saltwater Christian...
Board Copies of Form 990

Board Copies of Form 990

Issue We continually get questions with regard to providing copies of Form 990 to your Board of Trustees and how to report this activity on Form 990, Part VI. Situation Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section...