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Taxation for Universities and Colleges: Six Steps to a Successful Tax Compliance Program by Steve Hoffman

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Appendix:

This appendix contains materials for you to use alongside the material presented in the chapters of this book, including:

  • What a VP Wants from a Tax Manager
  • A Tax Translator Guide to UBIT Determination
  • UBIT Compliance Checklist
  • University of Central Florida UBIT Questionnaire
  • University of Notre Dame UBIT Questionnaire

What a VP Wants From a Tax Manager

I've talked with many vice presidents of business and finance of colleges and universities about what they need, want, and expect from their tax manager. One thing is for sure: they know what they don't want. But they had to give some real thought to what they did want. After thinking it through, they all said:

  • A knowledgeable tax staff that understands laws and regulations as they apply to higher education.
  • A tax staff that understands they work for the university, not the IRS.
  • A tax staff with a calm approach.
  • A tax staff that solves problems creatively.
  • A tax staff with personal detachment.
  • A tax staff willing to work with others to achieve reasonable results in a tax issue.
  • A tax staff willing to accept risk.
  • A tax staff that knows the CEO/CFO is in charge.

The following pages offer descriptions and examples for each situation.

A Knowledgeable Tax Staff That Understands Laws and Regulations as They Apply to Higher Education

I countered this thought with my own and reminded them that the only way to achieve this is to make sure there is sufficient budgeting for ongoing training of the tax staff. They were surprised ...

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