by Dave Moja | Oct 31, 2018 | Tax Tips |
ISSUE With all the hubbub over “Box 1 only” filing for Form 1098-T, don’t forget about the rules about your procedures for obtaining TIN’s from your students – and reporting or showing reasonable cause for not reporting. SITUATION Troas Bible College (TBC) is a...
by Dave Moja | Oct 24, 2018 | Tax Tips |
ISSUE The new Internal Revenue Code Section 512(a)(6) requires “silo-ing” of unrelated business activities. For those institutions that receive K-1’s from partnerships, how will the silo-ing work? SITUATION Denali Christian College (DCC) is a private college exempt...
by Dave Moja | Oct 17, 2018 | Tax Tips |
ISSUE The Parking and UBIT issue continues to be at the forefront of many of our minds. Maybe it’s time we start looking at potential streamlined solutions. SITUATION Idaho Bible College and Seminary (IBCS) is a private college exempt under Internal Revenue...
by Dave Moja | Oct 3, 2018 | Tax Tips |
ISSUE It appears that the IRS may be close to providing guidance on the “pay taxes on your costs of employee parking” provision in I.R.C. Section 512(a)(7) – and it may include penalty relief. SITUATION Marathon Bible College (MBC) is a private...
by Dave Moja | Sep 26, 2018 | Tax Tips |
ISSUE Tax reform – the 2017 “TCJA” – rendered moving expenses nondeductible and employee reimbursements of moving expenses taxable after 12/31/17. Now, the IRS has clarified the treatment of 2017 moving expenses paid in 2018. SITUATION Troas Bible College...
by Dave Moja | Sep 19, 2018 | Tax Tips |
ISSUE Our prayers go out to victims of Hurricane Florence. As we pray for them and consider funding relief efforts, the IRS warns of possible charitable scams. SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code...
