Checking accounts and EINs for homeschool groups
A homeschool leader is told she needs a tax ID number to open a checking account.
Carol Topp
Homeschool mom, author and accountant. I enjoy helping homeschool leaders start and run their homeschool groups successfully.
Group over the $5K limit. What to do?
A homeschool leader wonders what are her choices for her group that bring in more than $5,000/year.
More Parents Opting for Homeschooling
Carol Topp quoted talking about homeschool co-ops and all the opportunities available to homeschoolers in this article from EpochTimes.
Can we “self proclaim” tax exempt status?
The IRS explains that 501(c)(7) social clubs do not have to file an application to be considered tax exempt:
Financial Reports: What and how often?
Carol, Thank you for your wonderful words of wisdom. I am looking for a simplified report to publish every month in our newsletter. Would QuickBooks give a report that fit the needs of what is required for non-profit? It seemed…
Does a Release of Liability Agreement really count for anything?
A homeschool leader wonders if the waivers her group uses are really helpful.
Can a board appoint members without a vote?
A new homeschool leader asks several questions about appointing board members and if members need to be allowed to vote.
Can a co-op refund fees to members?
A homeschool co-op leader asks about returning supply fees charged to members.
Box Tops now requires 501c3 status for homeschool groups
Box Tops for Education now requires homeschool groups to have 501c3 tax exempt status with the IRS in order to participate.
What to do with a surplus of cash?
A homeschool leader, Michele in Colorado, asks, We will have less than $100 left in the check book. We have a Fed ID #. What do we do? What about next year? You did the right thing by getting a…