by Dave Moja | Apr 1, 2020 | Tax Tips |
ISSUE We’ve now got three pieces of Coronvirus relief/stimulus legislation – with (apparently) a fourth on the way. Where can Bible colleges and seminaries turn for information? SITUATION Troas Bible College (TBC) is a private college exempt under Internal...
by Dave Moja | Mar 25, 2020 | Tax Tips |
ISSUE We mentioned last week that the U.S. Department of Education has a COVID-19 webpage. They’ve added a timely FAQ resource. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | Mar 18, 2020 | Tax Tips |
ISSUE There is a lot going “viral” these days that we’ve not seen before. From a tax standpoint, what measures and/or announcements are out there regarding COVID-19? SITUATION Idaho Theological Seminary (ITS) is a private college exempt under Internal Revenue...
by Dave Moja | Mar 11, 2020 | Tax Tips |
ISSUE In an election year, institutions should be clear on ensuring that you do not “cross the line” into what the IRS would consider “political activity.” SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | Mar 4, 2020 | Tax Tips |
ISSUE Some schools will be receiving Schedule K-1’s from partnership investments over the coming weeks and/or months. The “Silo-ing” rules from Section 512(a)(6) come into play – beware. SITUATION Troas Bible College (TBC) is a private...
by Dave Moja | Feb 26, 2020 | Tax Tips |
ISSUE We’ve been getting a lot of questions regarding Form 1098-T. There are many different issues/nuances with this form. Penalties can be as much as $260 per form if not filed in a timely manner. SITUATION Denali Christian College (DCC) is a private college exempt...
