by Dave Moja | Sep 12, 2018 | Tax Tips |
ISSUE The IRS appears unable to update the 2018 Form 990 to accommodate recent changes to the classifications of net assets. How shall we then report? SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | Sep 5, 2018 | Tax Tips |
ISSUE It is important to answer each line of Form 990 in a manner consistent with filing a complete and accurate return, even though some items may seem immaterial. SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue Code...
by Dave Moja | Aug 29, 2018 | Tax Tips |
ISSUE Recent interim guidance on UBIT “Silo-ing” under I.R.C. Section 512(a)(6) contains some interesting provisions with respect to our ongoing discussion on “imputed income” from parking and other fringe benefits. It may affect your institution. SITUATION...
by Dave Moja | Aug 22, 2018 | Tax Tips |
ISSUE The IRS is looking closely at substantiation of employee expenses and reimbursements. Does your institution have proper policies/procedures in place? For a sample Word file of an Accountable Reimbursement Plan Policy, go to:...
by Dave Moja | Aug 15, 2018 | Tax Tips |
ISSUE The “repeal” of the “Johnson Amendment” has not happened (yet). In this election year, institutions should be aware of the rules regarding political campaign intervention. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal...
by Dave Moja | Aug 8, 2018 | Tax Tips |
ISSUE The Supreme Court’s recent decision in “South Dakota vs. Wayfair” threw out the tenets of the decades-old “physical presence” requirement that governed state nexus. If you have internet sales, take note. SITUATION Saltwater Christian College (SCC) is a private...
