by Dave Moja | Jul 3, 2019 | Tax Tips |
ISSUE For institutions that owed taxes on unrelated business income – including the “Parking Tax” – with a fiscal year (usually May 31 or June 30 for our institutions), there is a bizarre “twist” to the tax rate they paid for fiscal years ended in 2018....
by Dave Moja | Jun 26, 2019 | Tax Tips |
ISSUE Between institutions endeavoring to venture into “Enterprise Opportunities” that generate unrelated business income and the dreaded “Parking Tax,” the IRS’ Electronic Federal Tax Payment System (EFTPS) has become a reality to be dealt with. SITUATION...
by Dave Moja | Jun 19, 2019 | Tax Tips |
ISSUE In navigating the diverse instructions for Form 990, it is sometimes difficult to track who is included in the definition of “family” for various parts of the form and the accompanying schedules. SITUATION Troas Bible College (TBC) is a private...
by Dave Moja | Jun 5, 2019 | Tax Tips |
ISSUE While Congress continues to procrastinate on repealing I.R.C. Section 512(a)(7), the IRS contemplates innovative ways to streamline dealing with this nonsensical law. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal...
by Dave Moja | May 29, 2019 | Tax Tips |
ISSUE Many of our schools are employing HSA’s (Health Savings Accounts) and HRA’s (Health Reimbursement Accounts) as a benefit to employees given the “tough times” they are experiencing with health insurance coverage. SITUATION Idaho Bible College and...
