PTO Today Q&A

Question: newbie

We have been having problems with the bank this year since our new officers we are trying to get it straight but does everyone pay a bank fee and does everyone do taxes I'm the pto president and new at all this so any help is appreciated


Asked by Anonymous

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Answers:

Community Advice

lesleyharrison writes:
We don't have a fee on our checking account (we have a small business account with a local bank) but it does cost us to order new check books and stop a check etc. We do a tax return annually because we are a registered 501(c)(3) pta and must file annually to keep our tax status


Community Advice

de233 writes:
We also do not have a fee on our checking account. We are registered 501c3. We do file taxes annually with a local accountant. She charges a small fee which is part of our budget. If you have a banking fee it should be part of your budget. Your name will be listed as an officer on the PTO account but you as an individual do not pay taxes. The PTO would have to file taxes.


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