Tax Tips for Higher Education
Online Periodicals Can Present Interesting Issues
Troas Bible College (TBC) publishes an educational magazine, “Rising Tides”, the content of which is exclusively on TBC’s website.
Birthday Gift Cards for Employees
Situation Ward, the CFO, at Marathon Bible College (MBC), A private college exempt under Internal Revenue Code section 501(c)(3), calls us with a question. MBC has historically given employees in the accounting department $15 Moonrox Coffee gift cards for their...
Are You “Political”? Should You Be?
Situation Denali Christian College (DCC), a private college under I.R.C. section 501(c)(3), located in Ketchikan, AK, prepares and finances a full-page newspaper advertisement that is published in several large circulation newspapers in Alaska shortly before an...
Could Some of Your Bookstore Sales be Taxable?
Situation Marathon Bible College (MBC) is a qualified public charity under Internal Revenue Code section 501(c)(3). MBC operates a bookstore on its campus that sells books, t-shirts and other clothing items imprinted with the university’s name, computer hardware and...
Issues with a “President’s House” on Campus
Situation The CFO at Saltwater Christian College (SCC), a private college that is exempt under I.R.C. section 501(c)(3), had questions regarding the house that SCC’s president lives in tax free. They were concerned that the IRS might deem the fair rental value of...