Homeschool support group has problems with bank and IRS
A very frustrated homeschool leader just wants to open a checking account and runs into problems at her bank and with the IRS.
Category Money & Budgets
Giving Scholarships or Discounts in Your Homeschool Group
Advice and tips on offering help for needy members in your homeschool group
Used curriculum sales and taxes
Can a homeschool group owe tax from a used curriculum sale fundraiser?
Recording scholarships in homeschool group bookkeeping
How to record a scholarship or tuition reduction in a homeschool group's records
Returning homeschool co-op supplies to parents
Do parents get nonconsumable supplies if they helped pay for them?
Is a surplus added to next year’s budget?
A homeschool leader wonders if a cash surplus should be added to the next year's budget.
Is there a rule about keeping our nonprofit bank account under $25,000?
A homeschool treasurer asks if there is a limit to how much money can be in their checking account.
What homeschool leaders should do this summer to be ready for next year
A few tasks that homeschool leaders should do this summer to make the fall much easier!
Homeschool Treasurers: Do this before giving your board a financial statement
Homeschool treasurers: before you prepare a financial statement for your board meeting you should reconcile your bank account! Why is reconciling bank accounts so important? Vickey Richardson of FreeChurchAccounting.com explains, I have discovered with my bookkeeping business that reconciling accounts…
How Should We Handle Reimbursements in our Homeschool Group?
How to give reimbursements to your members properly, so they are not considered taxable income.