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Any Tax Breaks for Homeschoolers?
Since tax season 2012 has officially launched, I’ll address a question I am frequently asked, Do homeschoolers get any tax breaks for their homeschooling expenses? Can a homeschool family deduct any of...
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“Incorporate yourself and write off homeschool expenses.” Really?
Hello. I’ve been doing some research lately on how best to write of homeschool expenses in the state of Florida and came across your website. I’m hoping that you can assist me. I’ve contacted my...
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Can you set up homeschooling as a business and get tax deductions?
Hi Carol, I have been involved in financial planning for 25 years and own my business. My question is concerning tax deductions that could be available for homeschooling. What are some of the...
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Can a teacher work off her homeschool co-op tuition by teaching?
Carol, Some of our paid teachers who have kids in our homeschool program still owe our group money. Can we just reduce their salary to reflect their net debt to us? For example, one of our teachers...
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Any tax breaks for homeschooling in 2013?
Tax season hasn’t even started, but my website stats tell me that homeschooling parents are already wondering if there are any tax breaks for homeschooling, based on my previous blog post, Any Tax...
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How to report income earned from teaching at a homeschool co-op
Hi Carol. Thank you for all the help you have already given our homeschool community! As a teacher at a homeschool co-op that allows teachers to charge the parents $45 per student, how would I report...
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Any tax breaks for homeschoolers? Dollars and Sense Show #11
In this episode of the Dollars and Sense Show host Carol Topp discusses tax breaks for homeschoolers. Listen to the show here Show Notes: There is no federal tax credit or deduction for homeschool...
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Teens and taxes. Dollars and Sense Show #12
In this episode of the Dollars and Sense Show host Carol Topp discusses taxes and teenagers. Listen to the show here Show Notes: A teenager files their own tax return! Do NOT add your child’s income...
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Money Myths Homeschool Moms Believe. Dollars and Sense Show #13
In this episode of the Dollars and Sense Show host Carol Topp and her guest Susan Raber of AtHomeAndSchool.com discuss money myths that homeschool moms believe. Listen to the show here Do any of you,...
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Taxes and your homeschool expenses
I am pretty new to homeschooling and tax returns. As a matter of fact I have never incorporated my homeschooling into my tax returns since starting homeschool in 2013. What I would be interested in is...
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Tax breaks for education in some states
I’m frequently asked about tax deductions for homeschooling expenses. The US federal government does not have any tax deductions or tax credits for K-12 education expenses, but some states do offer...
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Are homeschool co-op fees childcare tax deductions?
Carol, A parent asked me for our tax ID number to give to her accountant for listing out tuition as a childcare expense. Is this common practice? Is it the EIN that she’s asking for? Should I give it...
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Are violin lessons and ballet classes tax deductions?
Hi Carol, I just discovered your great website. I pay several people for private instruction for my child: violin lessons by a private teacher, gymnastics, ballet in a nonprofit ballet school. Can I...
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Accepting contributions for a needy family
Hi Carol, We just suddenly lost a dad from our homeschool co-op. He leaves a wife and 6 children. We have been receiving donations for them left and right through PayPal. We will also start...
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Can my landlord get a tax deduction for the free rent he gives us?
I have a few questions for you about a tax deduction for our “landlord.” We just received 501(c)(3) tax exempt status form the IRS. Does this mean that our landlord can claim a deduction the reduced...
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Understanding Taxes for a small homeschool business
It’s tax season and I’ve been getting several emails from homeschool business owners, especially Classical Conversations directors, about how to fill out their tax returns. The IRS has a terrific...
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Taxes for Classical Conversations Directors
Last tax year I was asked a lot of questions about taxes by Classical Conversations directors and tutors. Things like: What tax form should I to use to report my income and expenses? What expenses...
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Any Tax Deductions for Homeschoolers This Year?
Are there any tax deductions for homeschoolers this year? Carol Topp, CPA answered this question originally back in 2014, but the answer is still the same-even with the new tax laws passed in 2017....
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Ebook Taxes for CC Licensed Directors almost ready!
I just sent the final (I hope) version of my ebook Taxes for Classical Conversions Licensed Directors off to Classical Conversations, Inc! The ebook will be distributed by Classical Conversations,...
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What homeschool expenses can I deduct on my taxes?
Here’s a list of homeschool expenses you can deduct on your federal income tax return (Form 1040): 1. Yes, that’s the list! It’s empty. There are NO homeschool expenses that you can deduct on your...
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