Are You Burning Out?

Kristen and Denise of Homeschool Group Leader recently interviewed me about leader burnout.

They are currently running a series at their blog on burnout with a new topic each Wednesday.

Here is the first portion of the interview:

What a great time we had interviewing author and Homeschool CPA, Carol Topp! She shared a bundle of hand-picked truths from her super-helpful book, Homeschool Co-ops: How to Start Them, Run Them and Not Burn Out. With knowledge and insight, Carol explained the warning signs of leader burn out and how to avoid it.

Do you feel like you might be burning out? Is homeschool group leadership overwhelming you? Have you noticed another leader’s fire seems to be fizzling out? How would you know?

HGL: From your experience, how can a leader know when he or she is burning out?

Carol Topp: It is important to recognize burn-out before it causes damage to you, your family or your homeschool group. Here are some symptoms of burn-out:

* loss of enthusiasm
* negativity
* depression
* health problems
* neglecting your own children
* neglecting your husband
* irritability
* feeling like a failure
* losing joy in serving

If you have 4-5 of any of these symptoms, you are experiencing burn-out.

This simple list can enlighten the path ahead so that leaders can take action and be completely healthy.

Kristen & Denise will make the complete interview available to you as soon as possible. Until then, you can read more of the interview at Homeschool Group Leader blog as they post excerpts from my interview each Wednesday. Soon the complete interview will be available in two reasonably-priced formats—audio cd and word-for-word transcript!

Can’t wait? Need help now?

My book Homeschool Co-ops: How to Start Them, Run Them and Not Burn Out has an entire chapter devoted to burn out.  Actually the whole book offers suggestions on how to delegate and avoid burn out. It is available from Amazon.com.

Read a sample chapter here.

Order here.

Kristen and Denise have a terrific book One By One: The Homeschool Group Leader’s Guide to Motivating Your Members. It is an ebook and available for immediate download.
Click Here!

Teens and Taxes

You know me as the HomeschoolCPA, but about this time every year, I do a lot of individual tax returns.  One issue seems to confuse a lot of American families:

When does my teenager owe taxes? What about babysitting income? Is it taxable?

Taxes for teenagers can be confusing, so I am hosting a live webinar to help parents understand taxes for their teenagers.

Teens and Taxes live webinar

Thursday, March 4, 2010

9 pm EST, 8 pm CST, 7 pm MT, 6 pm PST

The live web class will be hosted via Talkshoe, a podcast service. There is no charge for the webinar, but I do ask that all attendees register so that I can send you a handout and reminders.

By registering, you will also be able to purchase a copy of my ebook Teens and Taxes: A Guide for Parents and Teenagers for only $7.50, 50% off the regular price $14.95

My ebook, Teens and Taxes is a very helpful guide for parents.  Although the ebook is helpful, it is not necessary for you to have a copy in order to benefit from the webinar.

During the webinar , I will be discussing

• When does a teenager need to file a tax return
• Should a teenager file their own return?
• Can a parent include their teenager’s income on their return?
• Do babysitters need to file a tax return?
• How much money can a teenager earn before they owe taxes?
• Can I still claim my teenagers as a dependent?

There will be time for your questionseither via on-line chat or by phone.

Here’s how the webinar works.

After you register by sending me your name and email, you will receive an e-mail from me with:

1. A link to the webinar where you can listen via your computer and participate in the on-line chat room to type in a question.

2. A phone number and code that you may use if you wish to listen into the webinar but cannot be at your computer. You will be able to hear everything I say and can even ask questions over the phone.

3. A handout you may print to take notes during the webinar

4. A link to purchase Teens and Taxes: A Guide for Parents and Teenagers for only $7.50, 50% off the regular price $14.95

I will also send you a reminder email the day before and the morning of the webinar.

Register today, buy the ebook Teens and Taxes for a discounted price and get your questions ready for Thursday, March 4!

Carol Topp, CPA

Paying Workers workshop now available

Homeschool leader, did you pay a volunteer, teacher, leader or worker for your homeschool organization in 2009? HomeschoolCPA< Carol Topp,  recorded her on-line workshop for homeschool leaders.  Just in time for tax season.

Paying Workers in a Homeschool Organization

was recorded on

Friday, January 15, 2010

and is now available for you!

or listen at the Talkshoe site here: HomeschoolCPA’s Workshops

Topics:

• Volunteers. Can you pay a volunteer? How to reward volunteers.
• Independent Contractors. What are they? What IRS forms need to be filed?
• Employees? How are they different from Independent Contractors? What forms does the IRS require?

The workshop runs for one hour.

Look for more upcoming online workshops. Sign up for my newsletter to be informed of the next date and topic.

Carol Topp, CPA

Do homeschool teachers get the Educators Expense deduction?

I am frequently, “Are there any tax breaks for homeschooling parents?”  My usual reply is, “No; there are no tax credits or deductions for homeschool expenses at the federal level.” There are tax breaks offered by some states that I discuss in another blog post.

But here’s a bit of a new twist on the question from a homeschool mother.

I spoke with an IRS representative just today about an educator’s expense tax break.

The IRS rep stated that IRS laws specifically prohibit homeschoolers from getting up to $250 credit for educational items purchased. However, he stated congressional law overrides IRS law and that congressional law requires teachers work in a school as defined by state law. In our home state, Kentucky, we are considered private schools. The IRS rep suggested I give the credit a go next year but be prepared for an audit. Can you shed some light on the situation?

She is referring to the Educators Expense deduction of up to $250 in unreimbursed expenses.

The IRS guidelines say to be an eligible educator:

“You work at least 900 hours a school year in a school that provides elementary or secondary education, as determined under state law.”

To work means to get paid (to the IRS, not to all of us SAHMs!).  Homeschool parents are not employees of a school.  We do not get paid; we do not get a W-2.  I attended a tax workshop where we were told that the IRS will check for a W-2 from a school if a taxpayer takes the Educator Expense deduction. Homeschoolers would not have a W-2 from a school, even if your state classifies your homeschool as a private school.

The intention of the tax deduction was to move the deduction from the Schedule A (Itemized deductions) Miscellaneous Deductions where it was subject to a 2% of Adjusted Gross Income limit (meaning anything over 2% of your AGI could be deducted) and put the deduction on the front page of the 1040, so even teachers who don’t itemize deductions can take advantage of the $250 deduction.

The Educator Expense Deduction was nearly eliminated in 2006, but received an extension.  I predict the deduction will not be around for much longer.  IMHO, it was President Bush’s attempt to get a few votes from paid teachers.

So in short, I do not take the Educators Expense deduction, nor recommend that other homeschool families take the deduction.  The IRS rep was right, be prepared for an audit.  But without a W-2 from a school, you won’t win.

HTH,
Carol

P.S.  Here are my required “lawyer” words:
Internal Revenue Service Circular 230 Disclosure:  Advice relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of  avoiding penalties under the Internal Revenue Code or  promoting, marketing or recommending to another party any transaction or matter addressed herein.

Bank account for your family homeschool

This homeschooling mother in NC ran into a problem when she tried to open a bank account for her family homeschool.

I live in North Carolina, homeschool my children and want to do some fund raising for some projects and field trips and also school supplies.

I went to the bank, wanting to open an account in the homeschool’s name and they said that I would have to open up an account in my name doing business as my homeschool’s name.

My question to you is, how do I go about paying taxes on the money? I do not want to get into trouble with the IRS. Was that the right thing for me to have done? Waiting to hear from you soon!
Kim

Dear Kim,

I’ve been asked questions like yours before. I answered them in two posts on my blog.

Can we (an individual homeschool) be allowed to do fund raising similar to youth sports groups, scouts,etc?

Yes, you can participate in a fund raiser if the fund raising organization allows it. BUT, the profit you make is taxable income and you’ll need to report it on your tax return.

Can my individual homeschool have a fundraiser?

Individual fundraisers and homeschool groups

I hope that answers your question; let me know if it doesn’t.

Carol Topp, CPA