Accounting

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About Scam Emails

About the email Scam that keeps popping up. https://www.youtube.com/watch?v=l9iD4jWcA6o 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 lure you into…

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…

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…