Tax Reform:  Form 1040 | Mortgage Interest

Tax Reform: Form 1040 | Mortgage Interest

ISSUE Under the new tax law, interest on a home equity loan for individuals may be deductible – contrary to some news reports.   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section...
Tax Reform: The Moving Expense

Tax Reform: The Moving Expense

ISSUE: Generally, the historical exclusion from income for reimbursed or paid-by-employer moving expenses is suspended through 2025.     SITUATION: Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section...