August 08, 2019

Tiny Homeschool Groups: Do We Need to Pay Taxes?

17 minutes

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. Find all the episodes at HomechoolCPA.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. See this blog post for details on what to say to the IRS. How to self-declare tax exempt status

State income tax exemption. Go to https://www.harborcompliance.com/information/ Scroll down to your state. Select “State Startup Guide” and scroll down to “Apply for State Tax Exemption(s)”

The IRS annual report Form 990-N. Call IRS to get into Exempt Organization database. Here are the details of what to say when you call.

Sales tax for small nonprofit organizations. Go to https://www.harborcompliance.com/information/ Scroll down to your state. Select “State Startup Guide” and scroll down to “Apply for State Tax Exemption(s)”

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/

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

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By Carol Topp

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