Standard Mileage Rates for 2019

Standard Mileage Rates for 2019

ISSUE 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...
Guidance Released on “Parking Tax”

Guidance Released on “Parking Tax”

ISSUE As Congress continues to talk repeal, IRS and Treasury release interim guidance on I.R.C. Section 512(a)(7).  How will this guidance affect Bible Colleges and Seminaries? SITUATION Denali Christian College (DCC) is a private college exempt under Internal Revenue...
The “Parking Tax” Will Be Repealed**

The “Parking Tax” Will Be Repealed**

ISSUE: It looks like the infamous “Parking Tax” in Internal Revenue Code Section 512(a)(7) is positioned by be repealed by Congress… film at 11.  (**Barring any political shenanigans.)     SITUATION: Denali Christian College (DCC) is a private college exempt...