Changes in Homeschooling

TChanges in Homeschoolinghis episode is an excerpt from a homeschool leaders retreat held in Indiana. Carol Topp discusses the changes she sees in homeschooling. The lines between homeschool groups and small micro schools is blurring. And more people are homeschooling but for different reasons than in the past. How will your group face these changes?

 

Visit Carol’s website here!

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

Phone consultation with Carol Topp, the Homeschool CPA

A pre-arranged phone call to discuss your questions. My most popular service for homeschool leaders. It’s like having your own homeschool expert CPA on the phone!

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How to teach teenagers about managing money (when you’re not doing so great yourself)

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Teach Teenagers About Money

It’s tough to teach teenagers about managing money, especially if you’re not doing so great yourself!

But we all know that money management is an important skill that your teenagers will use every day of their adult life. They may never use Algebra II again, but money skills are vital.

I have an episode of the Dollars and Sense podcast to help you teach teenagers about managing money. Click here to listen

Our motivation to be teaching teenagers about money

  • Other people’s bad examples are all around us, including the US government.
  • We want them to avoid excessive debt. Did you know that college debt now exceeds credit card debt? Unbelievable!
  • Someone is watching you! So teach them how to avoid the mistakes you made.
  • We want to avoid boomerang kids, who are adults that return to live in their parents’ home, usually for financial reasons. Imaging the movie “Failure to Launch -Homeschool Style!” Always remember, we are raising adults, not children.

How to Teach Money Skills to a Teenager

  • Go with a natural style. Talk about money, what things cost, what people earn, decisions and trade-offs  a you go about your day. Stores are a great place to talk about money and choices.
  • Use real life examples. Share your own money stories (good or bad)  or those of people you read about in the news.
  • Get someone else to teach your teenagers. For example: Sunday school class, Scouts, or a homeschool co-op class. See the Resources below for curriculum that works well in a group setting.
  • Make personal finance a required class for graduation from your homeschool high school. The Resources below has several options for curriculum.

What to Teach Teenagers About Money

  • What things cost and what jobs earn.
  • Career exploration and post high school education.
  • Checking accounts and financial software such as Quicken or Ace Money Lite (it’s what I use and it’s free)
  • Budgets. One teenager I know is given $150/month as an allowance, but she has to buy everything: clothes, food, entertainment and gas.
  • Avoid credit card debt, but start building credit history in college.
  • Student loan debt. With her dad out of work, one college student chose a state school when shown the debt she would have from staying at a private college.
  • Taxes and federal spending. My husband says it’s his goal to raise taxpayers! We should all want that.
  • Entrepreneurship. My Micro Business for Teens books help a teenager earn money while learning a lot about business. Starting a Micro Business, a public television show features six students who started their own micro businesses. Ethan pays his own cell phone bill by teaching guitar and Linnea paid her way to China by tutoring.
  • Investing. Try a stock market simulation game.

Resources mentioned in the podcast

Schoolhouse Teachers  offers my Career Exploration 8 week class

Free! National Endowment Financial Education (NEFE) High School Financial Planning Curriculum http://www.hsfpp.org/

Generation Change for youth groups and Foundations in Personal Finance for schools at http://DaveRamsey.com

Discovering God’s Way of Handling Money from Crown.org 10 weeks, individual or class use

Money Matters for Teens Ages 15-18 Edition by Larry Burkett (oldie but still available on Amazon.com)

Micro Business For Teens books at http://MicroBusinessForTeens.com

Starting a Micro Business television show on YouTube

Our federal budget graphically displayed at http://WallStats.com

Tax return simulations from the IRS at Understanding Taxes www.irs.gov/app/UnderstandingTaxes

 

I hope you’re on your way to raising money-smart teenagers!

Carol Topp, CPA

Formerly Dollars and Sense now Homeschool CPA on Ultimate Homeschool Radio Network

How to teach homeschool teenagers about money

 

How to Self Declare Tax Exempt Status

How to Self Declare Tax Exempt StatusYour homeschool group can have tax exempt status without applying with the IRS. Want to know how? In this short podcast, Carol Topp, CPA, the HomeschoolCPA, tells you how to self declare tax exempt status and keep all of your surplus for your group, and not pay the IRS.

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

The IRS and Your Homeschool Organization

 

Does your homeschool group need to pay taxes?  Could they avoid paying taxes by being a 501c3 tax exempt organization? Do you know the pros and cons of 501c3 status? Do you know what 501c3 status could mean for your homeschool group?  I have the answers for you in my book The IRS and Your Homeschool Organization. The information I share in my book has been helpful to homeschool support groups, co-ops, music and sports groups and will help you understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • What your state requires
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

Click Here to request more information!

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Don’t take the summer off! What you need to be doing this summer to be ready for next year

Sometimes homeschool leaders take the summer off to have a break for running their homeschool programs. But Carol Topp, the HomeschoolCPA, doesn’t want you to completely forget about your homeschool group this summer. She offers a few tasks that you should do this summer to make the fall much easier!

Carol mentioned this list of topics for your board to discuss: http://homeschoolcpa.com/calendar-of-board-topics-for-homeschool-groups/

Visit Carol’s website here!

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

Homeschool Co-ops:
How to Start Them, Run Them and not Burn Out

 

Have you ever thought about starting a homeschool co-op? Are you afraid it will be too much work? Do you think you’ll have to do it all by yourself? Starting a homeschool co-op can be easy! This book Homeschool Co-ops: How to Start Them, Run Them and Not Burn Out will give you ideas, inspiration, tips, wisdom and the tools you need to start a homeschool co-op, run it and not burn out!

Click Here to request more information!

 

Keep Up To Date on State Filings for Your Homeschool Nonprofit

Keep Up To Date On Your State Filings for your Non Profit Group

Most homeschool leader know that they need to report annually to the IRS, but did you know that there are probably filings to do in your state every year? Carol Topp, the HomeschoolCPA, discusses the most common state reports that homeschool nonprofit organizations need to file.

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

The IRS and Your Homeschool Organization

 

Does your homeschool group need to pay taxes?  Could they avoid paying taxes by being a 501c3 tax exempt organization? Do you know the pros and cons of 501c3 status? Do you know what 501c3 status could mean for your homeschool group?  I have the answers for you in my book The IRS and Your Homeschool Organization. The information I share in my book has been helpful to homeschool support groups, co-ops, music and sports groups and will help you understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • What your state requires
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

Click Here to request more information!

Creative Ways to Run Your Co-op Without Employees

So you really don’t want your homeschool co-op to hire teachers as employees, but how can you run your group without them? Carol Topp, the HomeschoolCPA , offers a few creative ways to run a homeschool co-op without hiring employees or dealing with payroll.

So you really don’t want your homeschool co-op to hire teachers as employees, but how can you run your group without them? Carol Topp, the HomeschoolCPA , offers a few creative ways to run a homeschool co-op without hiring employees or dealing with payroll.

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

Paying Workers in a Homeschool Organization

 

Are you paying workers in your homeschool organization? Can a volunteer be paid? Should a worker be treated as an employee or independent contractor? Do you know the difference?

Homeschool leader and CPA, Carol Topp, has the answers to your questions in her book Paying Workers in a Homeschool Organization.

This 130 page book covers paying workers as employees or independent contractors. There are alos chapters on paying volunteers and board members. It includes sample forms, tips and advice to help you pay workers in accordance with the IRS laws to help your organization pay their workers correctly. Written specifically for homeschool organizations.

 

Click Here to request more information!

 

How Should We Handle Reimbursements in our Homeschool Group?

How Should We Handle Reimbursements in our Homeschool Group?

It’s that time of year when your homeschool group is trying to wrap up its finances for the year. In this podcast episode Carol  Topp, the Homeschool CPA, explains how to give reimbursements to your members properly, so they are not considered taxable income.

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

Money Management for Homeschool Organizations

Does your homeschool group manage their money well? Do you have a budget and know where the money is spent? Do you know how to prevent fraud? This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.

Click Here to request more information!

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How can I thank my homeschool group’s volunteers?

How can I thank my Homeschool group's volunteers?How Can I Thank My Homeschool Group’s Volunteers?

It’s the end of your homeschool organization’s school year and you want to thank your volunteers. They work so hard, so you hand out generous gift cards as thank you gifts. You may have just created a tax liability for your volunteers! Carol Topp, CPA, the Homeschool CPA discusses ways to thank your volunteers that are tax-free.

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

Paying Workers in a Homeschool Organization

Are you paying workers in your homeschool organization? Can a volunteer be paid? Should a worker be treated as an employee or independent contractor? Do you know the difference?

Homeschool leader and CPA, Carol Topp, has the answers to your questions in her book Paying Workers in a Homeschool Organization.

This 130 page book covers paying workers as employees or independent contractors. There are alos chapters on paying volunteers and board members. It includes sample forms, tips and advice to help you pay workers in accordance with the IRS laws to help your organization pay their workers correctly. Written specifically for homeschool organizations.

Click Here to request more information!

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Can My Homeschool Group Collect Money Now That’s For Next Year?

Can My Homeschool Group Collect Money Now That's For Next Year?Can My Homeschool Group Collect Money Now That’s For Next Year?

Many homeschool groups collect deposits in the spring for next fall’s programs. This helps with determining how many families will be returning. But how should these early deposits be recorded in a homeschool group’s bookkeeping. Carol Topp, the Homeschool CPA offers some ideas.

In the podcast Carol mentioned a handout that explains how to record early deposits in accounting software like QuickBooks. Here it is:

Deferred Revenue in QuickBooks (pdf)

Visit Carol’s website here!

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

Money Management in a Homeschool Organization

Does your homeschool group manage their money well? Do you have a budget and know where the money is spent? Do you know how to prevent fraud? This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.

Click Here to request more information!

 

 

 

 

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Is There a Penalty for Misclassifying my Homeschool Group’s Workers?

Is There a Penalty for Misclassifying my Homeschool Group's Workers? Carol Topp, the Homeschool CPA has your answer to this question!Is There a Penalty for Misclassifying my Homeschool Group’s Workers?

The IRS imposes strict penalties on an employer who treats workers as Independent Contractors when they should be employees. These penalties have put businesses and nonprofits out of business. Carol Topp, the Homeschool CPA, discusses this topic and some programs the IRS has to avoid crippling penalties.

Visit Carol’s website here

 

 

 

 

 

 

 

 

 

 

FEATURED PRODUCT from HomeschoolCPA:

 

 

Paying Workers in a Homeschool Organization

  • Is your homeschool teacher an employee or independent contractor?
  • Should your homeschool co-op director be paid as an employee?
  • How hard is it to set up a payroll system?
  • What happens if my homeschool group misclassifies a worker? Are their penalties?

Worker classification can be a confusing topic.

My book Paying Workers in a Homeschool Organization can help clear a lot of confusion, but perhaps you want to discuss your particular situation in a private, individual phone consultation.

I offer phone consultations to help you determine if your homeschool organization’s workers are employee or independent contractors. The phone call will be followed up with an email containing a fact-based determination and information to help you take the next steps.

Click Here to request more information!

 

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