Finance

Legal Landscape: What to Do If You Don’t Get Paid (Open Access)

What are the options if a student or family does not pay the tuition they owe? We all hope that this will never occur, but if it does, there are better choices than just “swallowing the loss.”

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In the Spotlight: “What Do You Charge?”

The fear that the answer you give to this question will lose a desired prospective student may be the most important reason independent music teachers sometimes hesitate to charge a professional-level fee.

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From Surviving to Thriving: Mindset and the Ability to Earn a Good Income

Many musicians dream of a successful career, but lack the financial tools to support their creative vision. By working with money mentor and accountant Katherine Pomerantz, I learned that business and creativity are two sides of the same coin.

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Technology Tips and Tools: Learn the Best Ways to Save Money, Track Your Income/Expenses and Get Paid in 2022 (Open Access)

Check out some of our favorite tools for getting paid, tracking mileage, managing expenses and even saving money in 2022. …

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Technology Tips and Tools: The Best Music Studio Management Applications for Music Teachers

Gone are the days of keeping track of financial records in a written ledger. Not only are there valuable accounting apps, we now have online programs developed specifically for music teachers to assist with registrations, auto invoicing, scheduling lessons, payment reminders, communications with parents/students and more. Here are four excellent programs worth considering. …

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Top Five Ways to Fund a Start-Up Business (Open Access)

The business aspects of starting your teaching studio can feel like a daunting task. Teaching materials, technology, piano upkeep, accounting and organizational software—all of these initial needs cost money and prevent many teachers from taking the first critical step towards opening their own studios. The good news is that there are many ways to gather the funds you need to start your business without breaking your bank. …

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How Do I Fund Thee? Let Me Count the Ways

Fundraising is not an Elizabethan tragedy. Successful fundraising is a concrete plan of action with specific, targeted and diversified activities. Fundraising can be undertaken by a Collegiate Chapter, a non-profit organization, an individual teacher or performer—anyone! Let's count the ways! …

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Legal Landscape: Taxes for Small Business Owners (Including Independent Music Studios/Schools) (Open Access)

As a tax preparer and enrolled agent, I am asked quite often about taxes related to small businesses. Here are some of the most frequent questions that I’m asked pertaining to small business owner taxes.

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From a CPA’s Perspective: Top 5 Ways to Prepare Your Records for a CPA

Nervous about your taxes? See the Top 5 recommendations from a CPA/piano teacher on ways to prepare your records for your tax return.

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Coming Soon!

Top Five: Five Things Every Freelancer Needs to Know About Finance (Including Teachers!) (Open Access)

Independent music teachers, owners of independent music schools, and free-lance performers can all feel overwhelmed by the challenges of short and long-term financial planning. At times, it can seem almost impossible to get out of debt or start saving for retirement. This Top 5 list highlights five important ways to strengthen one’s current and future financial health. …

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Retirement Planning: You Can Never Start Too Soon

My favorite quote about planning for retirement comes from Chris Hogan, “The Retirement Fairy isn’t coming!” …

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