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 | Mar 4, 2020 | Tax Tips |
ISSUE Some schools will be receiving Schedule K-1’s from partnership investments over the coming weeks and/or months. The “Silo-ing” rules from Section 512(a)(6) come into play – beware. SITUATION Troas Bible College (TBC) is a private...
by Dave Moja | Jul 24, 2019 | Tax Tips |
ISSUE Congress keeps stumbling around in vain attempts to “help undo the harm the 2017 tax law is causing nonprofits.” Bills continue to be introduced to repeal the “Parking Tax,” silo-ing, and other foibles. SITUATION Marathon Bible College (MBC) is a private...
