How does the IRS see my homeschool support group?

How does the IRS see my homeschool support group?Your homeschool support group is probably a social club in the eyes of the IRS. Listen to this short podcast as Carol Topp, the HomeschoolCPA explains that social clubs can get automatic tax exempt status without applying, but they must maintain that tax-free status.

Here’s a link to the blog post Carol mentioned in the podcast: How to get into the IRS exempt database: http://homeschoolcpa.com/how-to-get-added-to-the-irs-database-and-file-the-form-990n/

 

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!

 

Starting a Homeschool Co-op with a Friend

Starting a Homeschool Co-op with a FriendIs it a good idea to start a homeschool co-op with a friend? Carol Topp, the author of  Homeschool Co-ops: How to Start Them, Run Them and Not Burn Out explains the pitfalls to avoid when starting a co-op with a friend.

 

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!

 

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!

 

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!

 

 

 

 

Save

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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!

 

Is My Homeschool Co-op Teacher an Employee or Independent Contractor?

Are my homeschool co-op teachers employees or independent contractors?Is My Homeschool Co-op Teacher an Employee or Independent Contractor?

Should your homeschool co-op teacher be an employee or an independent contractor? What’s the difference and how do you make the decision?  Carol Topp, CPA, the HomeschoolCPA, sheds light onto this confusing topic and tells you how she determines if a co-op teacher is an employee or an independent contractor.

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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The podcast to help homeschool leaders is back!

HomeschoolCPA
The Podcast to Help Homeschool Leaders is Back!

Carol Topp, CPA, the HomeschoolCPA took a break from podcasting, but now she’s back with a different format. The podcast will be focused on helping homeschool leaders and businesses run their programs legally and successfully. The podcast episodes will be shorter–15 or 20 minutes max and will air weekly.

Visit Carol’s website here

 

 

 

 

 

 

 

 

 

FEATURED SERVICE from HomeschoolCPA:

  • 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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