Does a nonprofit need to file a tax return before they receive tax exempt status? Yes, the IRS requires organizations to file information returns before they apply for tax exempt status. Here’s what the IRS website states: Tax Law…
A nonprofit group may raise a lot of money from fund raising. These fundraisers could be so successful the leaders may wonder if the homeschool group owes anything to the government in taxes. For the most part, fund raising…
Some homeschool groups are very small and are not interested in the benefits of 501 c3 tax exempt status such as accepting donations or doing fundraising. Do these small homeschool groups really need 501c3 tax exempt status? No. They…
Homeschool leader, Paula, was applying for an EIN (Employer Identification Number) online, but the IRS website asked for her SSN (Social Security Number). She is reluctant to give it out. Should she be concerned? Someone (the “responsible party”) must…
Should your homeschool nonprofit group let its members vote? There are many nonprofit groups that do not give their members a vote, but some do! What are the pros and cons or each arrangement? In this short podcast episode…
Does your homeschool group need to protect your leaders? Sure you do, so you may consider purchasing Directors and Officers (D&O) insurance. In this short podcast episode (12 minutes) Carol Topp, the HomeschoolCPA, will explain: What is D&O insurance?…