by Dave Moja | Mar 28, 2018 | Tax Tips |
ISSUE The “Tax Cuts and Jobs Act” contains a much-publicized “decrease” in the corporate tax rate to 21%. This may actually result in a tax increase for some organizations – and sooner than you might think. SITUATION Saltwater Christian College (SCC) is a...
by Dave Moja | Mar 21, 2018 | Tax Tips |
ISSUE Although changes were proposed, the ban on political activity for 501(c)(3) organizations remains. However, “issue advocacy” is allowable. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3)...
by Dave Moja | Mar 14, 2018 | Tax Tips |
ISSUE March 15 is the annual filing deadline for those schools required to file Form 1042-S for payments to foreign students in amounts that are not QTREs. Do you know how to extend these filings, if necessary? SITUATION Denali Christian College (DCC) is a...
by Dave Moja | Mar 7, 2018 | Tax Tips |
ISSUE When reporting transactions with interested persons on Form 990, beware the “new” concept of “substantial contributors.” SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section...
by Dave Moja | Feb 27, 2018 | Tax Tips |
ISSUE Under the new tax law, interest on a home equity loan for individuals may be deductible – contrary to some news reports. SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section...
by Dave Moja | Feb 14, 2018 | Tax Tips |
ISSUE: Reimbursing business use of cell phones is generally not income to the employee. Thanks to a somewhat neglected change in the tax law, now it looks like computers, laptops, and other peripheral equipment are treated likewise. SITUATION: Denali...
