by Dave Moja | Nov 16, 2016 | Tax Tips |
Issue At this time of year, we are often asked about whether the value of a turkey, ham, or another item of merchandise purchased by an employer and distributed generally to each of the employees of an organization at Christmas, or a comparable holiday, constitutes...
by Dave Moja | Nov 9, 2016 | Tax Tips |
Issue Just because a payment looks like a “qualified sponsorship payment” (i.e. your institution stays within the bounds of these rules – logos, neutral descriptions, no qualitative language) does not mean that a portion might not be deemed unrelated business income...
by Dave Moja | Nov 2, 2016 | Tax Tips |
Issue We often answer questions from Christian colleges about how a corporate sponsor might be able to handle their sponsorship payments under the Internal Revenue Code. Is it deductible as an ordinary and necessary business expense or as a charitable contribution?...
by Dave Moja | Oct 26, 2016 | Tax Tips |
Issue Halloween is coming and we don’t mean to be scary, but… as the IRS Exempt Organizations Division makes unrelated business activities a priority (see the most recent IRS Priority Guidance Plan), it would behoove all colleges, seminaries, and universities to do an...
by Dave Moja | Oct 19, 2016 | Tax Tips |
Issue We continually see colleges reporting workers as “Key Employees” on Form 990, Part VII when they do not have to. This is easily remedied. Situation Troas Bible College (TBC) is a public charity and a school under I.R.C. sections 501(c)(3) and 170(b)(1)(A)(ii)....
by Dave Moja | Oct 12, 2016 | Tax Tips |
Issue One of the oft-encountered errors on Form 990 occurs in the “Governance” section (Form 990, Part VI, Section A) and concerns the answer to whether a family or business relationship exists between the organization’s current officers, directors, trustees, or...
