by Dave Moja | Jun 26, 2019 | Tax Tips |
ISSUE Between institutions endeavoring to venture into “Enterprise Opportunities” that generate unrelated business income and the dreaded “Parking Tax,” the IRS’ Electronic Federal Tax Payment System (EFTPS) has become a reality to be dealt with. SITUATION...
by Dave Moja | Jun 19, 2019 | Tax Tips |
ISSUE In navigating the diverse instructions for Form 990, it is sometimes difficult to track who is included in the definition of “family” for various parts of the form and the accompanying schedules. SITUATION Troas Bible College (TBC) is a private...
by Dave Moja | Jun 5, 2019 | Tax Tips |
ISSUE While Congress continues to procrastinate on repealing I.R.C. Section 512(a)(7), the IRS contemplates innovative ways to streamline dealing with this nonsensical law. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal...
by Dave Moja | May 29, 2019 | Tax Tips |
ISSUE Many of our schools are employing HSA’s (Health Savings Accounts) and HRA’s (Health Reimbursement Accounts) as a benefit to employees given the “tough times” they are experiencing with health insurance coverage. SITUATION Idaho Bible College and...
by Dave Moja | May 22, 2019 | Tax Tips |
ISSUE New financial statement reporting requirements are upon us. Is your institution prepared for the “liquidity and availability” disclosures? You should be. SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | May 15, 2019 | Tax Tips |
ISSUE A tax-exempt private school must adopt a racially nondiscriminatory policy regarding students, publicize that policy to “all segments of the general community it serves,” and operate in a bona fide manner in accordance with that policy. That usually meant...
