Book description
The "Tax Translator" offers much needed advice and guidance on tax compliance for institutions of higher learning
College and university officials often are unaware of their institutions' tax obligations. Especially for institutions without designated tax compliance officers, the consequences of such ignorance can devastating. Based on its author's decades of experiences as a tax manager at three universities, this handbook was written for all university staff involved with tax compliance—from the account clerk in the Accounts Payable Department, up through vice presidents, controllers, treasurers and directors. Steve Hoffman explains the core principles and practices that inform current tax policy and develops a framework for building a system for effective tax compliance, reporting and filing.
Satisfies the urgent demand for timely, authoritative advice and guidance on a area of increasing concern for colleges and universities
Sheds new light on the impact of current tax obligations for both four-year and community colleges, which are often left out of the discussion
The Federal Government has recently stepped up its enforcement of tax law compliance for colleges and universities
Table of contents
- Cover
- Title Page
- Copyright
- Dedication
- Preface
- Acknowledgments
- About the Author
- Chapter One: Awareness
-
Chapter Two: Identification
- Steps in Identifying Your Needs
- Independent Contractors
- Unrelated Business Income Tax (And What Does Macaroni Have to Do With It?)
- The Three Tests for Ubit
- Advertising Is Always Subject to UBIT
- Things You Generally Don't Have to Worry About: Common Exceptions to UBIT
- Go Ahead, Ask Around: The UBIT Questionnaire on Campus
- Allowable Deductions from Ubit
- Allocating Expenses: The IRS Hasn't Clarified
- Sales Tax
- Employment Tax and Fringe Benefits
- Excise Tax
- Overseas And International Tax
- In Summary
- Chapter Three: Compliance
- Chapter Four: Reporting
- Chapter Five: Monitoring
- Chapter Six: Tax Nirvana
- Chapter Seven: Your Audit Defense
- Appendix
- Index
Product information
- Title: Taxation for Universities and Colleges: Six Steps to a Successful Tax Compliance Program
- Author(s):
- Release date: September 2013
- Publisher(s): Wiley
- ISBN: 9781118541524
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