by Dave Moja | Aug 30, 2017 | Tax Tips |
ISSUE: Filers of Form 990 must report any loans, receivables, or payables to O/D/T/KE/HCE/DQ’s on Schedule L, Part II. SITUATION: Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section...
by Dave Moja | Aug 23, 2017 | Tax Tips |
IRS Warns of New Phone Scam ISSUE: A new phone scam is on the loose whereby fraudsters – sometimes using automated phone calls – are attempting to extort by fear. SITUATION: Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code...
by Dave Moja | Aug 16, 2017 | Tax Tips |
ISSUE: Historically, colleges have not paid income taxes on “royalties” received for sales of shirts, mugs, etc. containing their logo. Might that change? SITUATION: Denali Christian College (DCC) is a private college exempt under Internal Revenue Code section...
by Dave Moja | Aug 9, 2017 | Tax Tips |
Issue The IRS has become increasingly persnickety about donation receipts – and the verbiage therein. Situation Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section 170(b)(1)(A)(ii). A married couple,...
by Dave Moja | Jul 26, 2017 | Tax Tips |
Issue Contributions to your institution of works of art could be the “gift that keeps on giving” – in more ways than one. Situation Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section 170(b)(1)(A)(ii). ...
by Dave Moja | Jul 12, 2017 | Tax Tips |
Issue There is a potential credit for fuel (e.g. gasoline and/or diesel) used by your institution “exclusively for use by a nonprofit educational organization.” Situation Marathon Bible College (MBC) is a public charity and a school under I.R.C. sections 501(c)(3) and...
