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The “Parking Tax” Will Be Repealed**

The “Parking Tax” Will Be Repealed**

ISSUE: It looks like the infamous “Parking Tax” in Internal Revenue Code Section 512(a)(7) is positioned by be repealed by Congress… film at 11.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...
Donor Receipting – Is Email Okay?

Donor Receipting – Is Email Okay?

ISSUE As colleges and seminaries send donor receipts at the end of the year, does an email receipt meet IRS regulations?   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and 170(b)(1)(A)(i). ...
Holiday Turkeys, Etc.

Holiday Turkeys, Etc.

ISSUE You CAN give holiday gifts – including turkeys and/or hams – to employees.  However, you should be aware of several issues that could make holiday gifts taxable – thus includable in your employees’ Form W-2.     SITUATION Idaho Bible College &...