Dollars & Sense

By Carol ToppEducation Parenting Kids & Family

Dollars & Sense episodes

August 06, 2020Pandemic Podschooling: Is It Homeschooling?
Have you heard of “pandemic pods”? They are groups of parents who gather together to teach or hire a teacher to educate 3-6 students outside of their public school system. They became very popular as in-person schools closed due to the COVID-19 pandemic in the fall of 2020.
Carol Topp, the Homeschool CPA discusses with guest Julie Schiffman four distinct differences between pod schools and homeschools.
Who does the educating, the pod teacher or the parent?
Where does the education take place: In the pod space (a home or rented facility) or everywhere?
How is the curriculum chosen and delivered: Set by the school or chosen by the parent and customizable for the child’s needs?
Why? What is the motivation to educate this way: a pandemic or something deeper?
Julie Schiffman is owner of TenToad.com a website dedicated to helping parents transition from school to homeschooling though Virtual Homeschool Fairs
During the podcast Carol mentioned Julie’s Learning Pods Checklist and Considerations
Featured Product
Homeschool Co-ops:
How to Start Them, Run Them and not Burn Out
Have you ever thought about starting a homeschool co-op? Are you afraid it will be too much work? Do you think you’ll have to do it all by yourself? Starting a homeschool co-op can be easy! This book Homeschool Co-ops: How to Start Them, Run Them and Not Burn Out will give you ideas, inspiration, tips, wisdom and the tools you need to start a homeschool co-op, run it and not burn out!
Click Here to request more information!

The post Pandemic Podschooling: Is It Homeschooling? appeared first on Ultimate Homeschool Podcast Network.
21 min
July 30, 2020 Special Replay: Churches and Homeschool Groups
Some homeschool groups find it difficult to find a church host. Why is that? This episode is an excerpt from a homeschool leaders retreat held in Indiana. Carol Topp discusses the relationship homeschool groups have with churches who host their programs.

Visit Carol’s website here!

FEATURED PRODUCT from HomeschoolCPA:

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 to request more information!

The post Special Replay: Churches and Homeschool Groups appeared first on Ultimate Homeschool Podcast Network.
17 min
July 16, 2020Special Replay: What Homeschool Leaders Don’t Know About Losing Tax Exempt Status
What Homeschool Leaders Don’t Know About Losing Tax Exempt Status
Carol Topp, CPA, the HomeschoolCPA will share tips on important issues that homeschool leaders may not know about. This episode will focus on helping homeschool leaders know what to do if their organization has lost its tax exempt status.
Visit Carol’s website here

FEATURED PRODUCT from HomeschoolCPA:

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
Click Here to request more information!

The post Special Replay: What Homeschool Leaders Don’t Know About Losing Tax Exempt Status appeared first on Ultimate Homeschool Podcast Network.
12 min
July 02, 2020 Special Replay: What Homeschool Leaders Don’t Know About IRS Annual Reports
What Homeschool Leaders Don’t Know About IRS Annual Reports
Carol Topp, CPA, the HomeschoolCPA will share tips on important issues that homeschool leaders may not know about IRS Annual Report. This episode will focus on helping homeschool leaders understand a report that the IRS requires from all tax exempt organizations–including your group! It’s called the Form 990.
Visit Carol’s website here

FEATURED SERVICE from HomeschoolCPA:

Preparations of Annual Return for IRS

Preparing the Form 990/990-EZ Annual Information Return for the IRS and your State.
The Form 990/990-EZ is due 4 1/2 months after the end of your fiscal year.
Involves several telephone calls and e-mails and copy of your financial statements (a QuickBooks file is preferred).

Buying Peace of Mind
A review of forms you have prepared yourself. Save money by doing much of the work yourself. I will review Forms 1023 or Annual Form 990 and offer my opinion and advice.
___________________________________________
Wow Carol! Thanks so much – just the info you provided here is very helpful. I look forward to speaking with you as I’m anxious to get started, but I want to do so in the best and most efficient way. This is new territory for me – so I truly appreciate your guidance!
-Laine Discepoli, Glendale, OH
________________________________________
QuickBooks Set Up and Training
Setting up a QuickBooks Chart of Accounts unique to your homeschool organization. (Your organization needs to buy their own copy of QuickBooks)
Click Here to request more information!

The post Special Replay: What Homeschool Leaders Don’t Know About IRS Annual Reports appeared first on Ultimate Homeschool Podcast Network.
8 min
June 18, 2020Special Replay: What Homeschool Leaders Don’t Know About Tax Exempt Status
What Homeschool Leaders Don’t Know About Tax Exempt Status
Carol Topp, CPA, the HomeschoolCPA, will share tips on important issues that homeschool leaders may not know about. This episode will focus on helping homeschool leaders understand tax exempt status. It’s easier than ever to get tax-exempt status. Should your group apply?
Visit Carol’s website here

FEATURED SERVICE from HomeschoolCPA:

Tax Exempt for Small Nonprofit Organization

Contact HomeschoolCPA, Carol Topp, CPA, to arrange for assistance in applying for 501(c)(3) tax exempt status. This service involves several telephone calls and e-mails.
IRS Streamlined Form 1023-EZ Application
Full 501(c)(3) Application
Full 501(c)(4) or 501(c)(7) Application
State filings
Review of Self Prepared Application
Click Here to request more information!

The post Special Replay: What Homeschool Leaders Don’t Know About Tax Exempt Status appeared first on Ultimate Homeschool Podcast Network.
13 min
June 04, 2020Special Replay: What Homeschool Leaders Don’t Know About Non-Profit Status
What Homeschool Leaders Don’t Know About NonProfit Status
Carol Topp, CPA, the HomeschoolCPA will share tips on important issues that homeschool leaders may not know about. This episode will focus on helping homeschool leaders understand nonprofit status for their groups. What does it take to be a nonprofit? Only two things! Did you know that nonprofit status is not the same thing as tax exempt status?
Visit Carol’s website here

FEATURED PRODUCT from HomeschoolCPA:

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
Click Here to request more information!

The post Special Replay: What Homeschool Leaders Don’t Know About Non-Profit Status appeared first on Ultimate Homeschool Podcast Network.
12 min
May 21, 2020 Best Of HomeschoolCPA: Board Binder: Board Training All Year Long
In the new Board Member Manual, Carol Topp, CPA offers has important topics your board should discuss every year. Make a plan to cover one topic a month and do board training all year long. She shares those topics on today’s podcast.

Visit Carol’s website here!

FEATURED PRODUCT from HomeschoolCPA:

Homeschool Organization Board Manual
This is a real life conversation:
HomeschoolCPA: Do you have a copy of your EIN letter form the IRS?
Homeschool Leader: No. It was gotten by a former treasurer 15 years ago. All I have is the number handwritten on a sheet of paper from the bank.
HomeschoolCPA: Do you have a copy of your Articles of Incorporation filed in your state?
Homeschool Leader: No; I don’t think so.
HomeschoolCPA: Has your homeschool group ever applied for tax exempt status with the IRS?
Homeschool Leader: I have no idea! All I was given when I took over leadership was the checkbook.
This is a sad, but true reality. Sometimes current group leaders have none of the important paperwork for their organizations.
Homeschool board members should keep all their organization’s important papers in a safe and accessible place. Usually, a 3-ring binder works well.
The Homeschool Organization Board Manual comes in a Word file to make it easy for you to customize it for your organization.
The manual (a digital file) costs $9.95, but you only purchase one copy for your organization.
You are allowed to print off copies of the Manual for all of your board members, but please do not share the original Word file with them. And do not share the original Word file with other people, email it or post it on the internet. TIA!
Click Here to request more information!

Save
The post Best Of HomeschoolCPA: Board Binder: Board Training All Year Long appeared first on Ultimate Homeschool Podcast Network.
18 min
May 14, 2020 Best Of HomeschoolCPA: Can We Collect Money Now That’s For Next Year?
Can My Homeschool Group Collect Money Now That’s For Next Year?
Many homeschool groups collect deposits in the spring for next fall’s programs. This helps with determining how many families will be returning. But how should these early deposits be recorded in a homeschool group’s bookkeeping. Carol Topp, the Homeschool CPA offers some ideas.
In the podcast Carol mentioned a handout that explains how to record early deposits in accounting software like QuickBooks. Here it is:
Deferred Revenue in QuickBooks (pdf)
Visit Carol’s website here!

FEATURED PRODUCT from HomeschoolCPA:

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 to request more information!

Save
Save
Save
The post Best Of HomeschoolCPA: Can We Collect Money Now That’s For Next Year? appeared first on Ultimate Homeschool Podcast Network.
16 min
April 09, 2020If I’m Not a Homeschool Leader, What am I?
The COVID-19 pandemic has meant that many homeschool leaders have no group to lead. Some may enjoy the break from responsibilities, but other feel lost and lonely without their groups.
Carol Topp, the HomechoolCPA is joined by Doreen Browning, co-moderator of the I am a Homeschool Group Leader Facebook group and Jamie Buckland, Classical Program Consultant.
Listen as Carol, Doreen and Jamie discuss:
Leaders without a group can feel lost, lonely and without a purpose
Perhaps this is the time to “pour in” instead of the usual pour out
Resources to help you pour into yourself or others (see below)
Keep up with board meeting.
Do some things you never have time to do.
You need to be replaceable!
In the podcast, Jamie mentioned some resources she uses to “pour in” to being a better leader. Here’s her list:
Creativity Inc.: Overcoming Unseen Inspiration
The Next Right Thing Podcast on making hard but good decisions
Beauty in the Word: Rethinking the Foundations of Education by Stratford Caldecott
Mere Motherhood by Cindy Rollins. Read Jamie’s review
Carol Topp has found these resources to be very helpful:
Homeschool Organization Board Manual by Carol Topp, CPA- a template to create your own board manual of important documents and a training guide for board members.
org– lots of good articles for nonprofit board members in their resource library
Lessons From The Nonprofit Boardroom: 40 Insights For Better Board Meetings by Dan Busby and John Pearson
Join the Facebook group for homeschool leaders: I am a Homeschool Group Leader. 1200+ homeschool leaders offer ideas, encouragement and respectful exchange of ideas. https://www.facebook.com/groups/72534255742/
Jamie Buckland, the Classical Program Consultant is available for phone consultations regarding starting and running a classical homeschool group. Contact her at https://jamiebuckland.net/
Featured Product

Homeschool Organization Board Manual
Homeschool board members should keep all their organization’s important papers in a safe and accessible place. Usually, a 3-ring binder works well.
Author and homeschool advisor, Carol Topp, CPA, has created a Homeschool Organization Board Manual. It is a template to create a board member binder. It has:
A list of important documents to keep in your binder
Section dividers so you can organize the important papers
Tools to help you run your meetings smoothly including
A sample agenda that you can use over and over again
A calendar of board meetings
But this is more than just a few cover sheets for your binder. It is also a 55-page board training manual with helpful articles on:
Suggested Board Meeting Topic List
Board Duties
Job Descriptions for Board of Directors
What Belongs in the Bylaws?
Compensation and Benefits for Board Members
Best Financial Practices Checklist
How to Read and Understand Financial Statements
Developing a Child Protection Policy
The post If I’m Not a Homeschool Leader, What am I? appeared first on Ultimate Homeschool Podcast Network.
21 min
April 02, 2020Stay Connected with Your Homeschool Group During COVID-19
Stay Connected with Your Homeschool Group During COV-19
The COVID-19 pandemic and the requirements to practice social distancing has meant that many homeschool groups can no longer meet face-to-face. How can homeschool groups stay connected during this time?
Carol Topp, the HomechoolCPA is joined on today’s podcast by Doreen Browning, co-moderator of the I am a Homeschool Group Leader Facebook group and Jamie Buckland, Classical Program Consultant.
Listen as Carol, Doreen and Jamie discuss:
How we can enjoy and redeem this time of isolation and refocus on homeschooling and our families.
How to encourage interactive communication, not just one-way communication.
Tools to use to stay connected: some new and some very old school (mail and phones!)
While we are having a health emergency, there is no educational emergency.
Are we too dependent on our co-op classes and tutors?
Encourage parents that they are equipped to homeschool their children without your wonderful group!
Join the Facebook group for homeschool leaders: I am a Homeschool Group Leader. 1200+ homeschool leaders offer ideas, encouragement and respectful exchange of ideas. https://www.facebook.com/groups/72534255742/
Jamie Buckland, the Classical Program Consultant is available for phone consultations regarding starting and running a classical homeschool group. Contact her at https://jamiebuckland.net/
Featured Product
Webinar: Starting an Academic Homeschool Program
Are you interested in starting a homeschool program with a classical and academic focus? Jamie Buckland started Appalachian Classical Academy (ACA) after running a for-profit classical community. Now she is the Executive Director of ACA. She explains how ACA is set up with not one but two boards to run the Academy as a nonprofit organization!
Jaime and Carol teamed up to present a webinar on the ABCs of Starting an Academic Homeschool Program. You can benefit from their combined knowledge in this webinar (and you’ll get several helpful resources as well). http://homeschoolcpa.com/how-to-start-an-academic-homeschool-program/

The post Stay Connected with Your Homeschool Group During COVID-19 appeared first on Ultimate Homeschool Podcast Network.
18 min