Accounting
Requiring Recurring Payment for Tuition and Materials
I am considering implementing credit/debit card payments for all my students’ monthly tuition and materials fees and have a few questions for those who are already doing this. I only have a few students right now and have had no problems with payment by check…
Receipts
[question author="Joan H., Canada"] Greetings all – how do you provide receipts to students? ie. to all, or by request only? 2ndly, is there any suggested format or type of receipt protocol to be aware of to use? If you use a soft copy format,…
About Scam Emails
About the email Scam that keeps popping up. About SCAM Emails https://www.youtube.com/watch?v=l9iD4jWcA6o&list=PL3o0aF_9qHn4F2sy8QRuPb_jf_r4D9823&index=10 I get these occasionally. The first time, I ended up calling my local police. They explained that there are versions of this scam that target all kinds of service providers. They want to…
Tuition and Material Costs
I’m a new teacher since September and have been charging my families monthly for their tuition and then invoicing separately for materials costs as they arise. As I look ahead to next year I’ve been wondering if there are other ways of doing this so…
Spreading Materials Cost
I’d seen someone talk about handling materials expenses by just upping the monthly fee to include a contribution toward materials, avoiding lots of separate administrative stuff with separate orders and such. I realized that I like this idea a lot, and I’ve run it by…
Ensuring payment in proper currency
I went to pay my royalties and I was charged in US dollars instead of my preferred currency. What can I do to fix this? When paying royalties, or purchasing any product from the store, you’ll always want to make sure you are paying in…
Payment & Money Transfers
Has anyone used Zelle for payment/money transfers? I’ve heard it’s free, easy, and the transactions are made by phone number verification so parents don’t have to enter a lot of personal information to use it. Many of my families use this to do transfers for…
Parent Requests Tax ID
I have a parent of a student doing their taxes, and they asked me if I have a tax number. I don’t think so? Then they asked if Simply Music has a tax number. Why do you need a tax number for piano lessons? Maybe…
Income Tax
Has anyone discovered any way to (legally!) pay less taxes on piano teaching income? Deduct everything you possibly can. Keep your income in a tax bracket you’re more happy to live with. Have a company put you on payroll. Though that last really doesn’t work…
Late Fees
Do you have written in your policies, fees that are late incur extra charges? If so, how much extra do you charge? $20 late fee, no exceptions. My invoice says no places held without payment. I charge $25 if an invoice is more than 5…