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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 tuition payments. Super easy and free, but they must have a bank that offers the service. Another option for those that don’t have a bank…

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 under education? The only reason I can think of that they'd need it is if they wanted to send you a 1099 in order to claim…

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 much, because the company still needs to pay that extra tax to have you on payroll, so whether it's self-employment, or employment, or you…

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 days overdue. Invoices come out a few days before the end of the month and payment…

Are lesson fees tax-deductible?

Are piano lesson fees tax-deductible for families? I just had a family ask for a receipt for all of 2016 fees. Not asking for tax advice, just curious. No. Only if someone's a professional musician and can claim music expenses as business expenses. I've had a couple of families ask for that too. I'm guessing they're throwing it incorrectly into…