Tips for Starting a Tiny Homeschool Group

10/22/2019 by Leave a Comment

 

Carol,

What are the absolute essential things a small growing co-op needs to do to organize and avoid future headaches? We are entirely run by volunteers, and moms are required to remain on site, either teaching or assisting in some way. Right now we have 13 families and 35 kids ranging from infant to 10th grade.

-C Wilson

 

Dear C,

While the bigger homeschool groups get most of the attention on this website, tiny homeschool groups are abundant.

You asked an excellent question. I created a 4-part podcast series to help answer your question.

 

And here’s a blog post that sounds very similar to your group:

12 moms want to start a homeschool co-op. How to get started

 

My ebook Homeschool Board Member Manual may be very helpful. It’s a way to organize your group’s important paperwork and a board training guide.

 

Finally, tiny homeschool leaders are encouraged to join the Facebook group for homeschool leaders I am a Homeschool Group Leader. Join over 1,000 other leaders for support and information.

 

That’s a lot to help you get started! Divvy up the jobs. Don’t start even a tiny homeschool group on your own. Gather a board  and start learning together!

 

Carol Topp, CPA

Helping Homeschool Leaders

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Tiny Homeschool Groups: Do We Need a Bank Account?

08/22/2019 by Leave a Comment

Tiny Homeschool Groups: Do We Need a Bank Account?

Tiny homeschool groups have different challenges than large programs. They are limited on resources, volunteers, and activities. But they still have questions about legal status, money and taxes that the large homeschool organizations have.

In this 4-part podcast series, Carol Topp, CPA answers the common questions that tiny homeschool groups face. All podcasts are available at HomeschoolCPA.com/Podcast

  • Episode #175 Are We a Nonprofit?
  • Episode #176 Do We Need to File Anything?
  • Episode #177 Do We Need to Pay Taxes?
  • Episode #178 Do We Need a Bank Account?

In this episode Carol Topp will explain when a tiny homeschool group might need to open a checking account.

  • The pros and cons of operating in cash and without a checking account
  • Warning against using a personal checking account
  • Steps to take before opening a checking account

Join the Facebook group for homeschool leaders: I am a Homeschool Group Leader. 600+ homeschool leaders offer ideas, encouragement and respectful exchange of ideas. https://www.facebook.com/groups/72534255742/

 

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Money Management in a Homeschool Organization

  • Does your homeschool group manage their money well?
  • Do you have a budget and know where the money is spent?
  • Do you know how to prevent fraud?

This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.

Click here for more information

 

Filed Under: EINs and Names, Money & Budgets Tagged With: , , , ,

Tiny Homeschool Groups: Do We Need to Pay Taxes?

08/08/2019 by Leave a Comment

Tiny Homeschool Groups: Do We Need to Pay Taxes?

Tiny homeschool groups have different challenges than large programs. They are limited on resources, volunteers, and activities. But they still have questions about legal status, money and taxes that the large homeschool organizations have.

In this 4-part podcast series, Carol Topp, CPA answers the common questions that tiny homeschool groups face. All podcasts are available at HomeschoolCPA.com/Podcast

  • Episode #175 Are We a Nonprofit?
  • Episode #176 Do We Need to File Anything?
  • Episode #177 Do We Need to Pay Taxes?
  • Episode #178 Do We Need a Bank Account?

In this episode Carol Topp will explain taxes for tiny homeschool groups:

  • How a tiny homeschool group can be tax exempt without applying.
  • How tiny groups can self-declare tax exempt status with the IRS.
  • State income tax exemption.
  • The IRS annual report Form 990-N.
  • Sales tax for small nonprofit organizations.

 

Join the Facebook group for homeschool leaders: I am a Homeschool Group Leader. 1,000+ homeschool leaders offer ideas, encouragement and respectful exchange of ideas. https://www.facebook.com/groups/72534255742/

 

Featured Product

The IRS and Your Homeschool Organization

Does your homeschool group need to pay taxes? Could they avoid paying taxes by being a 501c3 tax exempt organization? Do you know the pros and cons of 501c3 status? Do you know what 501c3 status could mean for your homeschool group?

I have the answers for you in my book The IRS and Your Homeschool Organization. The information I share in my book has been helpful to homeschool support groups, co-ops, music and sports groups and will help you understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • What your state requires
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

 

 

 

Filed Under: 501(c)(3) status Tagged With: , , , , , ,