How much money can a homeschool group keep year to year?
A homeschool leader asks about having a surplus in her support group's checking account.
Category Money & Budgets
Giving gifts to speakers and homeschool board members
A homeschool support group leader asks if she should be giving gifts to speakers and board members.
No receipts for expenses can get you in trouble!
A new treasurer of a large homeschool co-op recently contacted me. The co-op had a long standing practice of giving checks to all the volunteer co-op teachers at the beginning of the school year. These checks were to be used…
Handling supply fees in a co-op
Handling supply fees in a co-op
Checking accounts and EINs for homeschool groups
A homeschool leader is told she needs a tax ID number to open a checking account.
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…
Can a co-op refund fees to members?
A homeschool co-op leader asks about returning supply fees charged to members.
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…
Questions on taxes, incorporation and leaving a group
A homeschool leader has questions about taxes, incorporation and leaving a group.
Any Tax Breaks for Homeschoolers?
Tax season has officially launched, so it’s time to address a question I am frequently asked, Do homeschoolers get any tax breaks for their homeschooling expenses? Can a homeschool family deduct any of their homeschool expenses? Sorry, but the federal…