Tax Tips for Higher Education
Related or Unrelated – That is the Question!
As we saw last week, there are many ins and outs with regard to the UBIT rules. Be careful that you are aware of the tricks and traps.
Providing “Services” May Result in UBIT
As Christian colleges look for alternative revenue sources, it is important to know the intricate workings of the UBIT rules.
Does My School Need to File Form 5578?
Questions have been posed regarding whether a college/seminary that does not file Form 990 would be required to file Form 5578, Annual Certification of Racial Nondiscrimination for a Private School Exempt From Federal Income Tax.
Update on Employee Birthday Gift Cards
Issue Herein we revisit the “employee birthday gift card” issue that we’ve talked about before – whether de minimis gift cards must be included in an employee’s compensation and reported on Form W-2 each year. Situation Saltwater Christian College (SCC), a private...
Do You Need to Report Foreign Activities?
The Form 990 instructions may be difficult to navigate. With the IRS running “data queries” that they have developed to ferret out areas of “non-compliance”, it makes sense to insure that your filings are complete, accurate, and timely.