Updated IRS Depreciation Rules

ISSUE The IRS has released a fact sheet that highlights new depreciation rules and related expense rules from the “Tax Cuts and Jobs Act” (TCJA).   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section...

Where Can You Find Sample Policies?

ISSUE Sometimes, it can be hard to find good resources such as sample policies, procedures, etc.  A new website is setting out to help institutions find sample policies that they might utilize. SITUATION Idaho Bible College & Seminary (IBCS) is a private college...

Form 990: Special Reporting for Schools

ISSUE Form 990, Schedule E (Form 990) – Schools contains some potential traps to be aware of.     SITUATION Marathon Bible College (MBC) is a public charity and a school under I.R.C. sections 501(c)(3) and 170(b)(1)(A)(ii). Per requirements, MBC has a...