by Dave Moja | Aug 7, 2019 | Tax Tips |
ISSUE The new Internal Revenue Code Section 4960 – the “Million Dollar Tax” – is very complicated. As we’ve said previously (see Tax Tips, 1/9/19), your school may never pay a worker $1,000,000 a year, but institutions should be aware of the “excess parachute...
by Dave Moja | Jul 31, 2019 | Tax Tips |
ISSUE It’s “Shark Week” on TV, but as we’ve said before, gift receipting can be as unpredictable and as dangerous as sharks – if you are not diligent and careful. SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue...
by Dave Moja | Jul 24, 2019 | Tax Tips |
ISSUE Congress keeps stumbling around in vain attempts to “help undo the harm the 2017 tax law is causing nonprofits.” Bills continue to be introduced to repeal the “Parking Tax,” silo-ing, and other foibles. SITUATION Marathon Bible College (MBC) is a private...
by Dave Moja | Jul 17, 2019 | Tax Tips |
ISSUE What happens when a 501(c)(3) school acts as a common paymaster for a related organization that is not a 501(c)(3)? Might they owe FUTA taxes? SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | Jul 10, 2019 | Tax Tips |
ISSUE Discerning who might be “interested persons” for purposes of Schedule L (Form 990), Parts II – IV can be challenging. Ultimately, your institution should have an annual questionnaire that gathers the required information in a complete and accurate manner....
