Tax Tips for Higher Education
“The Big Game” Outreach Party
ISSUE: Throwing a Super Bowl party for fellowship, outreach, and (possibly) fundraising can be a great idea for your school – but watch out for some stringent NFL trademark rules that could get you penalized. SITUATION:
Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and 170(b)(1)(A)(ii). They are required to file Form 990 annually. The MBC Accounting Team gets us on a video call to talk about their upcoming Super Bowl party…
Implications of the Recent and Upcoming Tax and Accounting Rule Changes for Your Institution
There is a lot going on in the higher education tax and accounting arena! How can you stay up-to-date and be ready for all that 2019 is bringing your way?
Has Your Institution Looked at “Qualified Opportunity Zones?”
There is an interesting provision in the 2017 “Tax Cuts and Jobs Act” that could provide a funding source for those institutions who are looking at Revenue Enhancement Opportunities (alternative business income activities).
Might Your Institution Encounter “Excess Parachute Payments” – and Pay the Tax?
I.R.C. Section 4960 is pretty technical and institutions should especially be aware of the issue with severance situations that might contain “excess parachute payments.”
Standard Mileage Rates for 2019
The IRS has released 2019 “standard mileage rates.” The business rate has increased, as has the “Medical and Moving” rate – but remember, the deductibility/non-taxability of “moving expenses” is currently suspended until 2026. And, the charitable mileage rate remains at 14 cents per mile.