The recent rescission of the Gainful Employment (GE) regulations is akin to watching a Stanley Cup hockey game going into overtime. With every shot, you are riding a wave of exultation or fear as the outcome of the game could occur at a moment’s notice. Similarly, regulatory whiplash occurred over much...
On March 5, 2019 ED published new guidance to address when books, supplies, etc. are considered to be institutional charges and how these charges should be properly recognized for Title IV purposes. ED defined clearly that an institutional charge must be recognized over the entire period for which the charge...
By: Jackie Emert, CPA, MST, and Melissa Ballantine Partnership tax basis and a taxpayer’s ability to use passed-through deductions has always been a hot issue for the Internal Revenue Service (IRS). However, enforcement has been difficult, due to the multiple basis methods that are reported on partners’ Schedule K-1s. That was, of...
This article was original published in the May 2019 Career Education Review and reproduced here with permission. Article originally posted at careereducationreview.net. As Herb Brooks famously told the U.S. Olympic hockey team late in the 1980 game against the USSR – “Play Your Game” – these words ring true today. Herb...
June 30 didn’t only mark the end of the first half of 2019. It was also the first day for significant updates to the standards used in drafting financial statements for not-for-profit (NFP) entities that have a 6/30 year end. These updates make changes to net asset classification requirements and include...
The Department of Education (ED) simplified parts of the 2019 Gainful Employment Disclosure Template, with ED outlining the changes in a May announcement (Gainful Employment Electronic Announcement #119). In the weeks leading up to the July 1 deadline to comply with the changes, ED also gave institutions some important clarity...
As the first tax return filing season under the newly minted Tax Cut and Jobs Act (TCJA) has passed, one thing has become clear, there is nothing clear about the qualified business income deduction (QBID). The QBID is seen as the small business equivalent to the tax rate decrease provided to...
Schools are educating a variety of students these days. With the rise in non-traditional students – or students who go to school at different stages of their lives – and with various lifestyles to accommodate, colleges and universities are changing traditional school models to create more options and flexibility for...