by Dave Moja | May 22, 2019 | Tax Tips |
ISSUE New financial statement reporting requirements are upon us. Is your institution prepared for the “liquidity and availability” disclosures? You should be. SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | May 15, 2019 | Tax Tips |
ISSUE A tax-exempt private school must adopt a racially nondiscriminatory policy regarding students, publicize that policy to “all segments of the general community it serves,” and operate in a bona fide manner in accordance with that policy. That usually meant...
by Dave Moja | May 8, 2019 | Tax Tips |
ISSUE So far, Congress has not mandated eFiling for Form 990 returns. It continues to be talked about and recommended. Your institution should consider eFiling as there are advantages. SITUATION Saltwater Christian College (SCC) is a private college exempt...
by Dave Moja | May 1, 2019 | Tax Tips |
ISSUEFor institutions with more than one unrelated business activity – don’t count “parking/transportation fringes” – there is a new reporting regime for Form 990-T that involves a NEW Schedule M (Form 990-T). SITUATIONDenali Christian College (DCC) is a private...
by Dave Moja | Apr 24, 2019 | Tax Tips |
ISSUE At this point, if your institution has any parking spots that are reserved for employees, you will have an “increase in UBTI under § 512(a)(7)” and likely be required to file Form 990-T and pay some tax – even if you do not have any unrelated business...
