by Dave Moja | Dec 25, 2019 | Tax Tips |
ISSUE The “Parking Tax” (I.R.C. Section 512(a)(7)) is being retroactively repealed this week. Thanks to Congress. But just begin to imagine the time, dollars, and brain toil we’ve all wasted – especially the already overburdened IRS – on this insane, ludicrous...
by Dave Moja | Dec 11, 2019 | Tax Tips |
ISSUE As the end of the calendar year approaches, many institutions have questions about donor receipting. A great place to start in your quest for answers may be IRS Publication 1771, “Charitable Contributions” (Substantiation and Disclosure Requirements). ...
by Dave Moja | Dec 4, 2019 | Tax Tips |
ISSUE Savvy institutions are taking advantage of “IRA Charitable Rollovers.” Your donors over 70 ½ years old may give through their IRA accounts using all or part of their annual required minimum distribution – potentially killing two birds with one stone. With that...
by Dave Moja | Nov 20, 2019 | Tax Tips |
ISSUE 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 Thanksgiving or Christmas, constitutes wages subject...
by Dave Moja | Nov 13, 2019 | Tax Tips |
ISSUE For Institutions with a June 30 year end, Friday (11/15/19) is the deadline day for filing Form 990-series returns – or extensions. SITUATION Denali Christian College (DCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | Nov 6, 2019 | Tax Tips |
ISSUE A few weeks ago we reported on the IRS’ omission of “Guidance under §512 regarding methods of allocating expenses relating to dual use facilities.” More on that issue from the IRS. . SITUATION Troas Bible College (TBC) is a private college exempt under Internal...
