Dollars & Sense

By Carol ToppEducation Parenting Kids & Family

Dollars & Sense episodes

February 07, 2019Recruiting Volunteers
Does your homeschool group have a hard time finding volunteers? Many groups struggle with getting people to help out. Homeschool leader Michele Gross shares some great tips for recruiting volunteers with host Carol Topp. Michele has been a homeschool leader for 15 years and currently is the founder and director of The Learning Connection in New Jersey.
In this episode of the HomeschoolCPA podcast, Carol Topp will share:
Don’t strive for an event. If you have no volunteers, there is no event.
Poll members for their gifts and talents. Michele has tips and ideas on how to collect that information
How to pull a volunteer out of their comfort zone.
Talk individually and ask for volunteers in person, if possible.
Train your replacement. Reproduce yourself or the group may not last.
My favorite quote from Michele was “Sharing your knowledge is the best thing you can do for the next generation of homeschool moms.”

Featured Product
A Board Manual for homeschool organizations. I think you’ll find it helpful to organize your board and run your homeschool organization successfully!
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
Read more about the Homeschool Organization Board Manual
Special Thanks to Our Network Sponsor – Christian Standard Bible
The Christian Standard Bible captures the Bible’s original meaning without compromising clarity. An optimal blend of accuracy and readability, this translation helps readers make a deeper connection with God’s Word and inspires lifelong discipleship. The CSB is for everyone—for readers young and old, new and seasoned. It’s a Bible pastors can preach from and a Bible you can share with your neighbor hearing God’s Word for the very first time.
Find out more here!
The post Recruiting Volunteers appeared first on Ultimate Homeschool Podcast Network.
14 min
January 31, 2019ABC Test for Independent Contractors
Is your homeschool teacher an employee or Independent Contractor?
In 2018 California Supreme Court tried to make that questions easier to answer with a simpler 3 part test: The ABC Test for Independent Contractor status.
Can You Pass The Three-Part ABC Test?
Employers must be able to answer yes to all three parts of the ABC Test if they want to classify workers as independent contractors:
The worker is free from the control and direction of your homeschool organization or business in relation to the performance of the work, both under the contract and in fact;
The worker performs work that is outside the usual course of your homeschool organization or business; AND
The worker is customarily engaged in an independently established trade, occupation, or business of the same nature as the work your homeschool organization or business hired them to perform.
Which parts of the ABC test do homeschool groups usually comply with?
Which part do they typically fail to pass?
Listen to the podcast for Carol’s reply.

Featured Resource
In the podcast Carol mentioned paying teachers or tutors of others in a homeschool business or nonprofit organization. Her book, Paying Workers in a Homeschool Organization has more information about paying Independent Contractors and employees.
Paying Workers in a Homeschool Organization
Are you paying workers in your homeschool organization?
Can a volunteer be paid?
Should a worker be treated as an employee or independent contractor?
Do you know the difference?
Homeschool leader and CPA, Carol Topp, has the answers to your questions in her book Paying Workers in a Homeschool Organization.
This 130 page book covers paying workers as employees or independent contractors. There are also chapters on paying volunteers and board members. It includes sample forms, tips and advice to help you pay workers in accordance with the IRS laws to help your organization.
Special Thanks to Our Network Sponsor – Christian Standard Bible
The Christian Standard Bible captures the Bible’s original meaning without compromising clarity. An optimal blend of accuracy and readability, this translation helps readers make a deeper connection with God’s Word and inspires lifelong discipleship. The CSB is for everyone—for readers young and old, new and seasoned. It’s a Bible pastors can preach from and a Bible you can share with your neighbor hearing God’s Word for the very first time.
Find out more here!
The post ABC Test for Independent Contractors appeared first on Ultimate Homeschool Podcast Network.
12 min
January 24, 2019Form 1099-MISC is due Jan 31!
Did you know there are some tax forms to file before April 15? There are if you are a homeschool business owner or homeschool nonprofit that paid anyone more than $600 in 2018.
I’m talking about the IRS Form 1099-MISC that is given to Independent Contractors paid more than $600 by your homeschool business or group.
In today’s podcast Carol answers a question from a new Classical Conversations director who asks, “Do I need to give Classical Conversations a 1099-MISC for the licensing fees I paid to them?”
Listen to the podcast for Carol’s reply.
In the podcast, Carol mentioned that she uses Yearli.com to file her 1099-MISc.
Yearli by Greatland is the best way for businesses to file 1099, W-2 & 1095 (ACA) forms. Best of all, you’ll receive 15% off your filings because I referred you. Check them out! https://mbsy.co/rzrbp

Featured Resource
In the podcast I mentioned my paying teachers or tutors of others in a homeschool business or nonprofit organization. My book, Paying Workers in a Homeschool Organization has more information about paying Independent Contractors and employees.
Paying Workers in a Homeschool Organization
Are you paying workers in your homeschool organization?
Can a volunteer be paid?
Should a worker be treated as an employee or independent contractor?
Do you know the difference?
Homeschool leader and CPA, Carol Topp, has the answers to your questions in her book Paying Workers in a Homeschool Organization.
This 130 page book covers paying workers as employees or independent contractors. There are also chapters on paying volunteers and board members. It includes sample forms, tips and advice to help you pay workers in accordance with the IRS laws to help your organization pay their workers correctly. Written specifically for homeschool organizations.
The post Form 1099-MISC is due Jan 31! appeared first on Ultimate Homeschool Podcast Network.
11 min
January 17, 2019Taxes for Homeschool Business Owners
Taxes! 2018 tax returns will be better rough with massive tax law changes and the new look for the Form 1040. Tax preparation for homeschool business owners is even more complex than regular taxpayers. Fortunately, HomeschoolCPA is here to help. I’m offering a free, live webinar.
Taxes for Homeschool Business Owners Webinar
Free live on Monday January 21, 2019 at 8 pm ET. Webinar replay: $10.
HomeschoolCPA.com/HSBIZTAXES
This webinar is for:
Paid teachers at a homeschool co-op
CC tutors getting paid as Independent Contractors
CC directors running a community
Music teachers, tutors, coaches, etc. running their own businesses
Business owners selling services to the homeschool marketplace
Here’s what the webinar will cover:
Tax changes for 2018 (highlights)
New tax deduction for businesses in 2018!
The new redesigned IRS Form 1040
How to pay yourself
Tax deductions common to homeschool business owners
IRS tax forms Schedule C and SE
Self-employment tax
A sample tax return.
This webinar will not cover:
Nonprofit organizations, but if you work as an Independent Contractor for a nonprofit, this webinar is for you.
Businesses organized as partnerships or corporations. I won’t have time to go into these more complex tax structures.
Businesses selling products like homeschool curriculum or ebooks
The webinar will be FREE for all who register and attend live. It will be free for about 24 hours after the webinar to all who register. After that, a small fee of $10 will be charged for viewing the webinar video.

Featured Product
Taxes for Homeschool Business Owners Webinar
Free live on Monday January 21, 2019 at 8 pm ET
Webinar reply: $10.
HomeschoolCPA.com/HSBIZTAXES
The post Taxes for Homeschool Business Owners appeared first on Ultimate Homeschool Podcast Network.
12 min
January 10, 2019Tips for a New Homeschool Group Treasurer
Homeschool leader Amanda Shafer is a woman of many talents. After first serving as her board secretary, she is now switching to serving as their treasurer!
Amanda’s been secretary of her homeschool group, Heartland Homeschool Association in southeast Missouri. But she agreed to a new role as treasurer. In this episode of the HomeschoolCPA podcast host Carol Topp and Amanda discuss:
Keeping a master file of important papers
Having a calendar at every board meeting
What a homeschool organization’s treasurer does
A really good policy for new treasurers
How often a treasurer should give a report
Possible software systems for homeschool groups
How to get a free copy of Quickbooks online. Use Quickbooks online for free

Amanda’s board follows a good rule for treasurers. They want a person to serve on the board for at least one year before serving as treasurer. “No new hand get into the money!” was how Amanda explains it. That sounds wise to me.
Carol and Amanda met online at the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 600+ homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742/

Featured Product
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?
When is it time to use accounting software?
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
The post Tips for a New Homeschool Group Treasurer appeared first on Ultimate Homeschool Podcast Network.
15 min
January 03, 2019What Should a Homeschool Group Secretary be Doing?
Homeschool leader Amanda Shafer is a woman of many talents. After first serving as her board secretary, she is now switching to serving as their treasurer!
Amanda’s role a secretary of her homeschool group, Heartland Homeschool Association in southeast Missouri included sending emails, newsletters and handling registration for 90 families! It was a large task. Listen to hear how Amanda stayed organized and reduced the full day-long paper registration to an online system that takes only 10 minutes!
In this episode of the HomeschoolCPA podcast host Carol Topp and Amanda discuss:
What a homeschool organization’s secretary does
Some tips for registering families for co-op classes
Some useful tools she uses to send out newsletters and emails.
How online registration helped her co-op
What board minutes should look like
How to run an effective board meeting
Carol and Amanda met online at the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 600+ homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742/

Featured Product
Does your homeschool board know and understand its duties?
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
Read more about the Homeschool Organization Board Manual
The post What Should a Homeschool Group Secretary be Doing? appeared first on Ultimate Homeschool Podcast Network.
13 min
December 20, 2018Is it illegal to NOT be a homeschool nonprofit?
Carol Topp, the HomeschoolCPA was recently asked if a homeschool co-op had to be a nonprofit? The homeschool leader, Laura, asked, “Does a homeschool co-op have to be a nonprofit or can it just run using PayPal account to collect insurance and facility fees that get paid doesn’t out again. Is it illegal to not be a nonprofit?”
I understand her confusion. I discuss nonprofit status so often that homeschool leaders wonder if its absolutely necessary.
In this episode of the podcast, Carol explains
What two things it takes to be a nonprofit
The difference between nonprofit and tax exempt status
If you’re not a nonprofit, what are you?
Some of the tax advantages of being a nonprofit
Other advantages of being a nonprofit

Featured Product
Have questions about nonprofit and tax exempt status? Do you know the difference?
Carol’s book The IRS and Your Homeschool Organization has the answers
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
The post Is it illegal to NOT be a homeschool nonprofit? appeared first on Ultimate Homeschool Podcast Network.
10 min
December 13, 2018Changes in Why People Homeschool
Homeschool leader Melissa Robb has noticed that the reason people homeschool has changed. Do you notice a difference in your area, too?
In today’s podcast Carol Topp interviews homeschool leader Melissa Robb from Rhode Island. Melissa’s organization, ENRICH, hosts monthly information meeting for people interested in homeschooling. She discusses what she has seen:
Parents now think about homeschooling when their children are infants or preschoolers
Many parents are homeschooling to avoid a bad situation
Some students may need to de-school or unschool
Information sessions deliver more than information-they bring hope and confidence to parents considering homeschooling
Over-compliance with legal requirements can be a problem
In the podcast, Carol mentioned the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 530 homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742/

Featured Resource:
Phone Consultation with Carol Topp, CPA
Do you have questions about leading your homeschool organization? Carol Topp’s website, books and this podcast are a great way to learn the basics, but maybe you need advice specific to your group. Carol Topp, CPA can arrange a private phone consultations with you and your board members.
Phone Consultation: A pre-arranged phone call to discuss your questions. My most popular service for homeschool leaders. It’s like having your own homeschool expert CPA on the phone!
Cost: $75/hour to nonprofit organizations.
We can arrange a conference call so all your board members can call in from their own homes. The call can be recorded for those unable to attend.
Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.
The post Changes in Why People Homeschool appeared first on Ultimate Homeschool Podcast Network.
12 min
December 06, 2018 Hosting an Introduction to Homeschooling Event
Homeschool leader Melissa Robb doesn’t just care about her group’s members, she also helps the public by leading introduction to homeschooling sessions! This is a terrific idea that I wish every homeschool group did. Melissa explains why her homeschool group, ENRICH in Rhode Island devotes time to these information events and how they benefit her group and homeschooling in general.
In this episode of the HomeschoolCPA podcast Melissa explains:
• Why she started does monthly Introduction to Homeschooling events for the general public
• What information she shares at the information events
• How these event offer emotional support to parents
Carol and Melissa met online at the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 500+ homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742/

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 like Becky did? 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 Hosting an Introduction to Homeschooling Event appeared first on Ultimate Homeschool Podcast Network.
13 min
November 29, 2018Don’t Take Things Personally
Has anybody ever disappointed you? Maybe you feel personally hurt by your homeschool group members.
Homeschool leader Becky Abrams leads a homeschooling co-op in Oregon. She has learned how to avoid take things personally. It takes practice, but Becky shares some tips and a very helpful mindset (involving a bus driver) that will help you overcome disappointment.
In this episode of the HomeschoolCPA podcast Becky explains:
How to deal with unmet expectations
How to avoid taking things (like a family leaving your co-op) personally
A great illustration about how homeschool groups are like a bus!
How to avoid stewing on emotional issues and disappointment
Why member might leave your homeschool group
A helpful mindset starts with controlling our thoughts
My favorite quote from Becky in this episode is “It’s very likely it doesn’t have anything to do with you!”
In the podcast, Carol mentioned the I Am a Homeschool Group Leader Facebook Group. It is a closed group (meaning you have to request to join) of 500 homeschool leaders from across the USA. You can join us here: https://www.facebook.com/groups/72534255742/

Featured Product:
Phone Consultation with Carol Topp, CPA
Do you have questions about leading your homeschool organization? Carol Topp’s website, books and this podcast are a great way to learn the basics, but maybe you need advice specific to your group. Carol Topp, CPA can arrange a private phone consultations with you and your board members.
Phone Consultation: A pre-arranged phone call to discuss your questions. My most popular service for homeschool leaders. It’s like having your own homeschool expert CPA on the phone!
Cost: $75/hour to nonprofit organizations.
We can arrange a conference call so all your board members can call in from their own homes. The call can be recorded for those unable to attend.
Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.
Click Here to request more information!

The post Don’t Take Things Personally appeared first on Ultimate Homeschool Podcast Network.
17 min