by Dave Moja | Feb 22, 2017 | Tax Tips |
Issue There always seems to be confusion around the arena of “allowable” fringe benefits for employees. The IRS has just released an updated version of Publication 15=B, Employer’s Tax Guide to Fringe Benefits. The new guide includes examples of de minimis...
by Dave Moja | Feb 15, 2017 | Tax Tips |
Issue Most small Christian colleges have heard about the Affordable Care Act’s rule that reimbursing health insurance premiums could result in $100 per day per employee penalties. Now, there may be a program to help “qualified small employers” go back to health...
by Dave Moja | Feb 1, 2017 | Tax Tips |
At Issue Executive compensation at higher education institutions is under increased scrutiny by the public and the IRS. Further, if your executive compensation is deemed by the IRS to be unreasonably high, it can result in substantial penalties levied against the...
by Dave Moja | Jan 25, 2017 | Tax Tips |
Issue Colleges, Seminaries, and Universities should be careful that they properly executed the signatures and required information in Form 990, Part II, Signature Block. This can be an overlooked section of the return, potentially to the peril of the institution....
by Dave Moja | Jan 18, 2017 | Tax Tips |
Issue Cash gifts to employees at Christmas – or anytime during the year – are taxable to the employee, require payroll taxes to be paid, and are includable on Form W-2. Situation Marathon Bible College (MBC) is a private college exempt under Internal Revenue...
by Dave Moja | Jan 11, 2017 | Tax Tips |
Issue **ALERT** Be sure that you include the amounts of gift cards – given to employees during the year – as compensation on Form W-2. The IRS has clarified that the “inadvertent error” section of the 2015 PATH Act does not apply to amounts that are known to the...
