by Dave Moja | Jun 27, 2018 | Tax Tips |
ISSUE New Internal Revenue Code Section 512(a)(7) may force your institution to file Form 990-T and pay unexpected taxes – ouch. SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | Jun 14, 2018 | Tax Tips |
ISSUE The 2017 “Tax Cuts and Jobs Act” contains a provision whereby some private colleges may have to pay a 1.4% excise tax on endowment earnings. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3)...
by Dave Moja | Jun 6, 2018 | Tax Tips |
ISSUE The Minister’s Housing Allowance (I.R.C. Section 107(2)), was again deemed unconstitutional by a federal judge in 2017. Now, the appeals process is progressing. SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue...
by Dave Moja | May 30, 2018 | Tax Tips |
ISSUE An employee received a tuition waiver benefit as part of a severance package several years ago. Tuition waivers to employees are generally exempt from income under I.R.C. Section 117. However, in this case the benefit was income to the former employee. ...
by Dave Moja | May 23, 2018 | Tax Tips |
ISSUE The IRS’ venerable “Select Check” system has been replaced by “TEOS” (Tax Exempt Organization Search) a more robust product that offers something for most institutions. SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal...
by Dave Moja | May 16, 2018 | Tax Tips |
ISSUE Tax-exempt organizations have a great opportunity in the fundraising arena that some institutions are not utilizing. This is the “token exception.” SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section...
