Join the webinar tonight on starting an academic homeschool program

 

Are you considering starting a homeschool program? An academic program, not a co-op and not a for-profit business either. But a nonprofit organization with an academic focus, maybe a classical emphasis, too.

You’re motivated! But where to begin?

Carol Topp, CPA, the Homeschool CPA and Jamie Buckland are teaming up to to help you!

ABC’s of an Academic Homeschool Program

An hour-long webinar on Monday February 18, 2019 at 8 pm ET

Jamie Buckland of Classical Program Consultant has run both a for-profit classical homeschool program and is currently the Executive Director of Appalachian Classical Academy, a nonprofit 501c3 organization. She will share about Administration and Curriculum

  • How your culture affects an academic program when it comes to logistics.
  • What to look for in the Board of Directors
  • Why have an Advisory Council
  • Why employ tutors
  • How to train employees
  • How to assess employees
  • Why charge tuition
  • How to communicate with families
  • How to determine curriculum for your program

Carol Topp, CPA is the owner of HomeschoolCPA.com and has assisted more than 80 homeschool organizations apply for tax exempt status. She is the author of 15 books and will share about Business

  • Why and how to organize as a nonprofit
  • Applying for 501c3 tax exempt status
  • A timeline: How fast can you get this done?

There will be time for questions and answers.

  • Cost is $30 and includes live webinar access and ability to view the recording.
  • Jamie’s extensive questionnaire for homeschool parents looking to create a homeschool program.
  • Copy of Carol’s ebook The IRS and Your Homeschool Organization.
  • Slide handout

Getting an hour with these two experts and their materials would typically cost you $165.

Carol Topp, CPA

HomeschoolCPA.com

Keep Meetings to a Minimum

 

Does your homeschool group have a hard time getting volunteers? Maybe you need to keep meetings to a minimum since homeschoolers are busy people. Homeschool leader Michele Gross shares some great tips on keeping meetings to a minimum but still staying in communication. Michele has been a homeschool leader for 15 years and currently is the founder and director of The Learning Connection in New Jersey.

In this episode of the HomeschoolCPA podcast (15 minutes), Carol Topp will share:

  • Keep meetings to a minimum. Time is precious to homeschool leaders.
  • Using apps like Trello (a To Do list), GroupMe and email forums to communicate
  • Use conference calls for urgent matters. FreeConferenceCall.com is an option.
  • Use an incentive to recruit volunteers. Michele and Carol have a few ideas.
  • Open up volunteer positions to teenagers in you homeschool group! Listen to all the benefits it has for them!

In the podcast Carol mentioned …

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!

Carol Topp, CPA

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Recruiting Volunteers

 

Does your homeschool group have a hard time finding volunteers? Many groups struggle with getting people to help out. Homeschool leader Michele Gross shares some great tips for recruiting volunteers with host Carol Topp. Michele has been a homeschool leader for 15 years and currently is the founder and director of The Learning Connection in New Jersey.

In this short podcast episode (13 minutes)  Carol Topp, the Homeschool CPA, will share:

  • Don’t strive for an event. If you have no volunteers, there is no event.
  • Poll members for their gifts and talents. Michele has tips and ideas on how to collect that information
  • How to pull a volunteer out of their comfort zone.
  • Talk individually and ask for volunteers in person, if possible.
  • Train your replacement. Reproduce yourself or the group may not last.

 

In the podcast Carol mentioned …

 

Does your homeschool board know and understand its duties?

Author and homeschool advisor, Carol Topp, CPA, has created a Homeschool Organization Board Manual. It is a template to create a board member binder. It has:

  • A list of important documents to keep in your binder
  • Section dividers so you can organize the important papers
  • Tools to help you run your meetings smoothly including
  • A sample agenda that you can use over and over again
  • A calendar of board meetings

But this is more than just a few cover sheets for your binder. It is also a 55-page board training manual with helpful articles on:

  • Suggested Board Meeting Topic List
  • Board Duties
  • Job Descriptions for Board of Directors
  • What Belongs in the Bylaws?
  • Compensation and Benefits for Board Members
  • Best Financial Practices Checklist
  • How to Read and Understand Financial Statements
  • Developing a Child Protection Policy

Read more about the Homeschool Organization Board Manual

Carol Topp, CPA

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How to start an academic homeschool program

Learn the ABC’s of starting an Academic Homeschool Program

Have you considered wanting to start a homeschool program? An academic program, but not a co-op and not a for-profit business, either. But a nonprofit organization with an academic emphasis–maybe with a classical education focus.

Sounds like a great idea! But where to begin?

Feeling overwhelmed?

We’re here to help.

Carol Topp, CPA, the Homeschool CPA and Jamie Buckland are teaming up to to bring you:

ABC’s of an Academic Homeschool Program

An hour-long webinar on Monday February 18, 2019 at 8 pm ET

Jamie Buckland of Classical Program Consultant has run both a for-profit classical homeschool program and is currently the Executive Director of Appalachian Classical Academy, a nonprofit 501c3 organization. She will share about Administration

  • How your culture affects an academic program when it comes to logistics.
  • What to look for in the Board of Directors
  • Why have an Advisory Council
  • Why employ tutors
  • How to train employees
  • How to assess employees
  • Why charge tuition
  • How to communicate with families

Carol Topp, CPA is the owner of HomeschoolCPA.com and has assisted more than 80 homeschool organizations apply for 501c3 tax exempt status. She is the author of 15 books and will share about Business

  • Why and how to organize as a nonprofit
  • Applying for 501c3 tax exempt status
  • A timeline: How fast can you get this done?

Then Jamie wraps up by discussing Curriculum

  • How to determine curriculum for your program

There will be time for questions and answers.

  • Cost is $30 and includes live webinar access and ability to view the recording.
  • Jamie’s extensive questionnaire for homeschool parents looking to create a homeschool program.
  • Copy of Carol’s ebook The IRS and Your Homeschool Organization.
  • Slide handout

Getting an hour with these two experts and their materials would typically cost you $165.

Carol Topp, CPA

HomeschoolCPA.com

ABC Test for Independent Contractors

 

Is your homeschool teacher an employee or Independent Contractor?

In 2018 California Supreme Court tried to make that questions easier to answer with a simpler 3 part test: The ABC Test for Independent Contractor status.

Can You Pass The Three-Part ABC Test?

Listen to the podcast (11 Minutes) for Carol’s reply.

 

In the podcast Carol mentioned …

In the podcast I mentioned my paying teachers or tutors of others in a homeschool business or nonprofit organization. My book, Paying Workers in a Homeschool Organization has more information about paying Independent Contractors and employees.

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 also 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.

 

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Are my homeschool co-op fees a tax deductible donation?

I’m a homeschool parent and member of a homeschool co-operative that weeks weekly. I have to pay tuition to this group for the classes my children take there. Can my children’s tuition for the co-op be a tax deduction?

 

I assume you mean deductible as a charitable donation.

Co-op fees are not a tax deductible charitable donation because services (co-op classes for your children) were received in return for the tuition payments. Tuition payments are not a tax deductible donations.They are personal expenses and are not tax deductible.

But if a parent makes a charitable gift to the homeschool group (assuming it has 501c3 tax exempt status from the IRS) above and beyond the tuition and fee payments, then this amount would be a tax deductible donation.

Some homeschool parents ask if co-op fees can be deducted as childcare expenses. My reply is “usually not” and here are the details: Are homeschool co-op fees child care tax deductions?

 


Did you get paid for teaching at a homeschool program? You may have questions about your taxes? I offer webinar to help you understand the tax implications of being a paid homeschool co-op teacher or tutor:

I recorded a webinar on Tax Preparation for Homeschool Business Owners. It should be a lot of help to tutors, non-employee co-op teachers and other homeschool business owners! You can watch the recording at HomeschoolCPA.com/HSBIZTAXES for a small fee of $10.

Carol, thank you again for the webinar. It was one of the BEST webinars I’ve EVER attended. If you do hold another one, I would pay for it hands down. Totally worth the $10! -Denise, webinar attendee

“I actually don’t care for webinars at all – it is not my learning style at all and I struggle to focus, but this one was extremely value and had my attention”. -Mary, webinar attendee


I hope that helps!

Carol Topp, CPA

HomeschoolCPA.com

Helping homeschool leaders

Form 1099-MISC is due Jan 31!

 

Did you know there are some tax forms to file before April 15? There are if you are a homeschool business owner or homeschool nonprofit that paid anyone more than $600 in 2018.

I’m talking about the IRS Form 1099-MISC that is given to Independent Contractors paid more than $600 by your homeschool business or group.

In today’s podcast (10 minutes), I answer a question from a new Classical Conversations director who asks, “Do I need to give Classical Conversations a 1099-MISC for the licensing fees I paid to them?”

Listen to the podcast  for Carol’s reply.

 

In the podcast Carol mentioned Yearli.com (affiliate link) as the online service she uses to file Form 1099-MISC.

Yearli by Greatland is the best way for businesses to file 1099-MISC and W-2  forms. Best of all, you’ll receive 15% off your filings because Carol referred you.

Check them out! https://mbsy.co/rzrbp (my affiliate link)

 

 

In the podcast I mentioned my paying teachers or tutors of others in a homeschool business or nonprofit organization. My book, Paying Workers in a Homeschool Organization has more information about paying Independent Contractors and employees.

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 also 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.

 

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Taxes for Homeschool Business Owners

 

Taxes! 2018 tax returns will be better rough with massive tax law changes and the new look for the Form 1040. Tax preparation for homeschool business owners is even more complex than regular taxpayers. Fortunately, HomeschoolCPA is here to help. I’m offering a free, live webinar.

Taxes for Homeschool Business Owners Webinar

Free live on Monday January 21, 2019 at 8 pm ET. Webinar replay: $10.

HomeschoolCPA.com/HSBIZTAXES

This webinar is for:

  • Paid teachers at a homeschool co-op
  • CC tutors getting paid as Independent Contractors
  • CC directors running a community
  • Music teachers, tutors, coaches, etc. running their own businesses
  • Business owners selling services to the homeschool marketplace

Here’s what the webinar will cover:

  • Tax changes for 2018 (highlights)
  • New tax deduction for businesses in 2018!
  • The new redesigned IRS Form 1040
  • How to pay yourself
  • Tax deductions common to homeschool business owners
  • IRS tax forms Schedule C and SE
  • Self-employment tax
  • A sample tax return.

This webinar will not cover:

  • Nonprofit organizations, but if you work as an Independent Contractor for a nonprofit, this webinar is for you.
  • Businesses organized as partnerships or corporations. I won’t have time to go into these more complex tax structures.
  • Businesses selling products like homeschool curriculum or ebooks

The webinar will be FREE for all who register and attend live. It will be free for about 24 hours after the webinar to all who register. After that, a small fee of $10 will be charged for viewing the webinar video.

 

In the podcast Carol mentioned …

Taxes for Homeschool Business Owners Webinar

Free live on Monday January 21, 2019 at 8 pm ET

Webinar reply: $10.

HomeschoolCPA.com/HSBIZTAXES

 

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Homeschool business owner under reporting her income

I’m a leader of a small, for-profit classical homeschool program. I have only been recording the amount that I retain after I pay my tutors on my tax return. After reading your website and FB comments, I’m confused. Why do I have to claim all of the money even though I don’t keep it?

-S

 

Dear S,

You, as a business owner, must report all your income om your tax return. Additionally, you can deduct business related expenses, like paying your tutors, insurance, rent, etc.

You asked, “Why do I have to claim all of the money even though I don’t keep it?
Good question!

Short answer: It’s the law. The IRS requires business owners to report ALL their income. Then the business owner shows the IRS all their business-related expenses. The difference is profit and that’s what business owners pay taxes on (and get to keep).

Longer answer: By showing your total income from your business and all your business-related expenses, you prove to the IRS that your business had little or no profit. The IRS won’t take your word for it that your didn’t “keep it.” They want proof of how much profit you had and you give the proof by filling out the numbers on the tax form (Form 1040 Schedule C for businesses).

On your tax form (Schedule C) you should have answered this question: Did you make payments that require you to file Form 1099? with a YES, because you paid your tutors as 1099 Independent Contractors and gave them each a 1099-MISC (I assume).

Then further down on the Schedule C you can deduct what you paid those tutors on Line 11 Contract Labor (or Line 26 Wages if they are employees). Then you can also show any other expenses like insurance, office supplies, etc.


It is not my intention to scare you or anyone else away from operating a homeschool business. You provide an essential service to homeschool families, so don’t stop, but you do need to understand the legal and tax implications, so I am offering this webinar to help:

On Monday January 21, 2019 at 8 pm I will be giving a live webinar on Tax Preparation for Homeschool Business Owners.  The webinar is free for the live version. For details visit HomeschoolCPA.com/HSBIZTAXES


If you did not prepare your tax return this correct way, you may need to amend your prior years’ tax returns, especially if you failed to report all of your income. You can amend up to 3 prior years. The IRS can fine taxpayers for under-reporting income. They take that very seriously!

But if you correct prior year tax returns now, the IRS usually waives any fines and penalties.
You may not owe any additional tax, so don’t panic!. I cannot tell if you will owe more tax (or get money back!) until I would see your tax return and recalculate your Schedule C.

Did you prepare the tax return yourself or use a professional tax preparer? If you used a professional tax preparer, go back to him/her with all your records for the past 3 years and see what they recommend that you do.

 

I hope that helps!

Carol Topp, CPA
HomeschoolCPA.com

Tips for a New Homeschool Group Treasurer

 

Amanda’s been secretary of her homeschool group, Heartland Homeschool Association in southeast Missouri. But she agreed to a new role as treasurer.

In this short podcast episode (12 minutes)  Carol Topp, the HomeschoolCPA, and Amanda will discuss:

  • Keeping a master file of important papers
  • Having a calendar at every board meeting
  • What a homeschool organization’s treasurer does
  • A really good policy for new treasurers
  • How often a treasurer should give a report
  • Possible software systems for homeschool groups
  • How to get a free copy of Quickbooks online. Use Quickbooks online for free

 

In the podcast Carol mentioned …

 

Does your homeschool board know and understand its duties?

Author and homeschool advisor, Carol Topp, CPA, has created a Homeschool Organization Board Manual. It is a template to create a board member binder. It has:

  • A list of important documents to keep in your binder
  • Section dividers so you can organize the important papers
  • Tools to help you run your meetings smoothly including
  • A sample agenda that you can use over and over again
  • A calendar of board meetings

But this is more than just a few cover sheets for your binder. It is also a 55-page board training manual with helpful articles on:

  • Suggested Board Meeting Topic List
  • Board Duties
  • Job Descriptions for Board of Directors
  • What Belongs in the Bylaws?
  • Compensation and Benefits for Board Members
  • Best Financial Practices Checklist
  • How to Read and Understand Financial Statements
  • Developing a Child Protection Policy

Read more about the Homeschool Organization Board Manual

Carol Topp, CPA

Save

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