ISSUE:

There is a lot going on in the tax and accounting arenas.  We’ve got some good solutions at the ABHE Annual Meeting in Orlando. > www.abhe.org/annual-meeting

 

 

SITUATION:

Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section 170(b)(1)(A)(ii).  They are required to file Form 990 annually.

TBC’s Controller called us to ask about all of the changes that are going on with tax reform, financial statements, UBIT, leases, etc.  They asked, “Where can we find a good opportunity to gain knowledge and updates on all of these issues?”

“Well,” we answered, “are you planning to attend the ABHE Annual Meeting in Orlando, Florida February 21 – 23, 2018?”

“Of course,” they replied.

“Great,” we tell them.  “There are two sessions, one on Wednesday (2/21) and one on Tuesday (2/22) that might be of interest to you.  The Wednesday workshop is ‘all day’ and is entitled, ‘Accounting & Tax: The Future is Now.  Will You Thrive?’  The Thursday session is a morning-long workshop entitled, ‘Tax Forum for Christian Higher Education.’”

 

“RULES:”

Accounting & Tax: The Future is Now.  Will You Thrive?

Wednesday, February 21

Session 1 – The Future is Now – Accounting (8:30am – 9:30am) [Q&A – 9:30 – 10:00]

BREAK (10:00am – 10:30am)

Session 2 – The Future is Now – Tax (10:30am – 11:30am) [Q&A – 11:30 – 12:00]

LUNCH (on your own) – 12:00 – 1:00pm

Session 3 – The Three Biggest UBIT Concerns – And You Have Them!  (1:00pm – 2:00pm)

[Q&A – 2:00pm – 2:30pm]

BREAK (2:30pm – 3:00pm)

Session 4 – Revenue Enhancement Opportunities (REO) (3:00pm – 4:00pm) [Q&A 4:00 – 4:30]

 

Tax Forum for Christian Higher Education

Thursday, February 22

Session 1 – Accounting and Tax Update (8:30am – 9:30am)

Q&A Discussion (9:30 – 10:00)

BREAK (10:00am – 10:30am)

Session 2 – Real World Case Studies (10:30am – 11:30am)

Q&A Discussion & Wrap-up (11:30 – 12:00)

 

BOTTOM LINE:

  • ASU 2016-14 changes the format and presentation of your audited financial statements – are you ready?
  • Have you identified the ways in which the new tax law will affect your school?
  • With the new changes to UBIT rules, don’t let taxes sneak up on you.
  • With the challenges before us, there are also GREAT opportunities!

 

Specific questions? Email Dave Moja

The information provided herein presents general information and should not be relied on as accounting, tax, or legal advice when analyzing and resolving a specific tax issue. If you have specific questions regarding a particular fact situation, please consult with competent accounting, tax, and/or legal counsel about the facts and laws that apply.

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