by Dave Moja | Jul 1, 2020 | Tax Tips |
ISSUE Happy 4th of July! With all of the “guidance” flying around about the PPP, PPP Flex, etc. There is a lingering question about the maturity dates for “unforgiven” portions of PPP loans. SITUATION Idaho Theological Seminary (ITS) is a private college exempt...
by Dave Moja | Jun 23, 2020 | Tax Tips |
ISSUE: One change in the 2019 Form 990 instructions has not received much fanfare – the re-ordering of the people listed at Part VII, Section A. SITUATION: Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code...
by Dave Moja | Jun 16, 2020 | Tax Tips |
ISSUE The Affordable Care Act required workers to have “essential coverage” health insurance. An exemption was “carved out” for Health Care Sharing Ministry (HCSM) memberships. However, the HCSM payments were not included in “medical expenses” under I.R.C. Section...
by Dave Moja | Jun 10, 2020 | Tax Tips |
ISSUE The 2017 TCJA got rid of Net Operation Loss (NOL) carry backs and instituted “silo-ing” of unrelated business activities. The CARES Act re-instituted NOL carry backs for certain situations. How might a 2020 net operating loss be carried back to a year prior to...
by Dave Moja | Jun 3, 2020 | Tax Tips |
ISSUE On this 5th Anniversary of “Tax Tips,” let’s look back to our beginnings – with a COVID-19 twist – and Summer Camp activities. SITUATION Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | May 28, 2020 | Tax Tips |
ISSUE We continue to receive guidance from the SBA and Treasury Department meant to clarify Paycheck Protection Program (PPP) Loan Forgiveness. Let’s look at the FTE information. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal...
