Accepting contributions for a needy family
Gifts to an individual family are NOT tax deductible donations to the donor.
Category Money & Budgets
Are violin lessons and ballet classes tax deductions?
Are educational classes like violin lessons and ballet classes tax deductions?
Are homeschool co-op fees childcare tax deductions?
Are homeschool co-op fees tax deductible as childcare expenses?
I’m a Classical Conversations Director. Do I have to file any forms with the IRS?
April 15 was a little late for a Classical Conversations Director to ask if she needed to file any forms with the IRS!
How to account for a surplus in your nonprofit records
A homeschool leader asks how to account for accumulated money on a financial statement
Accepting in-kind donations of equipment or services
Carol, My homeschool group (a 501c3 nonprofit) was donated $500 in science equipment. How to I record a gift like this in my record keeping? We use QuickBooks. How wonderful to receive such a generous donation. As a 501(c)(3)…
What financial reports do we need to generate monthly?
A homeschool leader wonders what financial statements she should be reviewing each month.
Embezzlement: Could It Happen in Your Homeschool Group?
How a homeschool organization can prevent embezzlement
Homeschool co-op gives “scholarships.” What are the tax liabilities?
What are the tax liabilities of a homeschool group giving scholarships?
How you pay your homeschool teachers could affect the property tax exemption for your host church
Several homeschool leaders have learned that the way that their homeschool groups are compensating the teachers jeopardizes the property tax exemption of their host churches.