Tax Tips for Higher Education
“Last Minute” Charitable Contributions
What are the rules when donors mail a check for a “year-end” contribution in December 2015 and want to ensure that they get receipted for a potential income tax deduction in 2015?
Could Your College Have Activities in “Boycott Countries”?
More and more, the IRS is scrutinizing overseas activities and the reporting requirements continually increase. Have you considered whether your college might have operations in or related to a “boycotting country”, or with the government, a company, or a national of a boycotting country.
Happy Thanksgiving!
As we pause from the rigors of accounting and tax issues, we praise our Great God and are thankful for the excellent Kingdom work being done by you at Christian colleges throughout the U.S. and Canada. Father, please give us grateful hearts, wisdom, and an...
Are Holiday Turkeys Taxable to Employees?
At this time of year, we are often asked about whether the value of a turkey, ham, or other item of merchandise purchased by an employer and distributed generally to each of the employees of an organization at Christmas, or a comparable holiday, constitutes wages subject to income tax withholding or income subject to tax for income tax purposes.
Sending Flowers to Employees
When “gifts” are sent to employees of your school for grievances or holidays – for example – what would cause you to be required to include the value of those in the receiving employee’s compensation and reported on Form W-2?