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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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

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What Should a Homeschool Group Secretary be Doing?

 

Homeschool leader Amanda Shafer is a woman of many talents. After first serving as her board secretary, she is now switching to serving as their treasurer!

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

  • What a homeschool organization’s secretary does
  • Some tips for registering families for co-op classes
  • Some useful tools she uses to send out newsletters and emails.
  • How online registration helped her co-op
  • What board minutes should look like
  • How to run an effective board meeting

 

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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Is it illegal to NOT be a homeschool nonprofit?

 

Carol Topp, the HomeschoolCPA was recently asked if a homeschool co-op had to be a nonprofit?

In this short podcast episode (9 minutes)  Carol Topp, the HomeschoolCPA, explains:

  • What two things it takes to be a nonprofit
  • The difference between nonprofit and tax exempt status
  • If you’re not a nonprofit, what are you?
  • Some of the tax advantages of being a nonprofit
  • Other advantages of being a nonprofit

In the podcast Carol mentioned …

Have questions about nonprofit and tax exempt status? Do you know the difference?

Carol’s book The IRS and Your Homeschool Organization has the answers

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

 

Carol Topp, CPA

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Changes in Why People Homeschool

 

Homeschool leader Melissa Robb has noticed that the reason people homeschool has changed.  Do you notice a difference in your area, too?

In this short podcast episode (11 minutes)  Carol Topp, the HomeschoolCPA, interviews homeschool leader Melissa Robb from Rhode Island.

Melissa’s organization, ENRICH, hosts monthly information meeting for people interested in homeschooling. She discusses what she has seen:

  • Parents now think about homeschooling when their children are infants or preschoolers
  • Many parents are homeschooling to avoid a bad situation
  • Some students may need to de-school or unschool
  • Information sessions deliver more than information-they bring hope and confidence to parents considering homeschooling
  • Over-compliance with legal requirements can be a problem 

In the podcast, Carol mentioned the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 600 homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742

Phone Consultation with Carol Topp, CPA

Do you have questions about leading your homeschool organization? Carol Topp’s website, books and this podcast are a great way to learn the basics, but maybe you need advice specific to your group. Carol Topp, CPA can arrange a private phone consultations with you and your board members.

Phone Consultation: 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!

Cost: $75/hour to nonprofit organizations.

We can arrange a conference call so all your board members can call in from their own homes. The call can be recorded for those unable to attend.

Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.

Carol Topp, CPA

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Hosting an Introduction to Homeschooling Event

 

Homeschool leader Melissa Robb doesn’t just care about her group’s members, she also helps the public by leading introduction to homeschooling sessions! This is a terrific idea that I wish every homeschool group did.

In this short podcast episode (12 minutes) Melissa explains why her homeschool group, ENRICH in Rhode Island devotes time to these information events and how they benefit her group and homeschooling in general.

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 like Becky did? 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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Don’t Take Things Personally

 

Has anybody ever disappointed you? Maybe you feel personally hurt by your homeschool group members.

Homeschool leader Becky Abrams leads a homeschooling co-op in Oregon. She has learned how to avoid take things personally. It takes practice, but Becky shares some tips and a very helpful mindset (involving a bus driver) that will help you overcome disappointment.

In this episode of the HomeschoolCPA podcast (16 minutes) Becky explains:

  • How to deal with unmet expectations
  • How to avoid taking things (like a family leaving your co-op) personally
  • A great illustration about how homeschool groups are like a bus!
  • How to avoid stewing on emotional issues and disappointment
  • Why member might leave your homeschool group
  • A helpful mindset starts with controlling our thoughts

In the podcast Carol mentioned …

 

 

Phone Consultation with Carol Topp, CPA

Do you have questions about leading your homeschool organization? Carol Topp’s website, books and this podcast are a great way to learn the basics, but maybe you need advice specific to your group. Carol Topp, CPA can arrange a private phone consultations with you and your board members.

Phone Consultation: 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!

Cost: $75/hour to nonprofit organizations.

We can arrange a conference call so all your board members can call in from their own homes. The call can be recorded for those unable to attend.

Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.

Click Here to request more information!

Carol Topp, CPA

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How to Have Happy and Thankful Homeschool Co-op Members

 

Are your homeschool co-op members happy and thankful? Or maybe they are complaining to you. Can that be changed?

In this short podcast episode (14 minutes)  Carol Topp, the HomeschoolCPA, interviews homeschool leader Becky Abrams who started and leads a homeschool co-op in Oregon.

In this episode of the HomeschoolCPA podcast Becky explains:

  • How she went about finding help
  • How her co-op’s board came together
  • How to have happy and thankful co-op members!
  • How Becky invited new board members to join the leadership team
  • How to let co-op members have a voice

In the podcast Carol mentioned …

Help your homeschool group get organized and run smoothly!

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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Necessity Leads New Homeschooler to Start a Homeschool Co-op

 

Homeschool mother Becky Abrams started homeschooling out of desperation. “By October homeschooling was a disaster!” she said. Her 3 sons were miserable and lonely, and Becky had a newborn and was lonely herself! She tells host Carol Topp how desperation and necessity drove Becky to start a homeschool field trip group and later launch a homeschool co-op–all as a brand new homeschooler herself!

In today’s podcast Carol Topp interviews homeschool leader Becky Abrams who started and leads a homeschool co-op in Oregon.   

In this episode of the HomeschoolCPA  (12 minutes) podcast Becky explains:

  • Why she started homeschooling her 3 sons
  • What drove her to start meeting other homeschool families
  • How she connected with other homeschool families as a new homeschooler
  • What she did when her sons needed to find friends

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 like Becky did? 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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Are You Helping or Hindering Parents to Homeschool?

 

You lead a homeschool group to help parents successfully homeschool, right? But could your homeschool program actually be hindering their success as a homeschool parents?

In this episode of the HomeschoolCPA podcast, Carol Topp will share:

  • How homeschool groups take on responsibilities that belong to the parent
  • Do you assume your parent, especially new ones, don’t know how to homeschool? Some homeschool program undermine confidence of homeschool parents
  • Some homeschool programs foster dependence on their program to homeschool successfully
  • Is your group too controlling?
  • Are your parents dependent on your group or program to successfully homeschool?
  • How to identify if you are helping or hindering parents

Here’s a quote from the podcast:

 “If your group is taking over the education of the children then you are not helping that parent, especially that mom, to homeschool successfully. You are actually hindering her. You are making her dependent on your group.”

Instead you should empower her to homeschool her kids on her own

If one of your parents says, “I couldn’t have homeschooled without your group!” you should reflect on this question:

If my group closed tomorrow would our parents still continue to joyfully and confidentially continue to homeschool?

I hope so!

Share your thoughts on the I am a Homeschool Group Leader Facebook group!

 

Do you have questions about running your homeschool group?

Start by reading the Articles or search the blog. For more detailed information visit the bookstore  and listen to HomeschoolCPA’s podcast.

If you want individual help, consider a phone consultation with Carol Topp, CPA

Phone Consultation: 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!

Cost: $75/hour to nonprofit organizations.  $100/hour to for-profit businesses. $60 minimum.

Q &A by Email:  I am willing to answer questions by email, but it is very time consuming to read and reply to emails. I charge a reduced rate of $50/hour to read and reply to emails. Minimum $25.

Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.

Click Here to request more information!

Carol Topp, CPA

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