Bookkeeping and Accounting for Music Teachers

Looking for a bookkeeper and accountant for your music teaching business? We hit the right notes with your books, so you get more time to focus on inspiring the next generation of musicians. Try us for free.

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How Bench works with music teachers

Improve your chords, not your bookkeeping. Get your bookkeeping, income tax prep, and filing done by experts—backed by one powerful platform. Bench works in harmony with music teachers.

We get you set up

Our team invests the effort to thoroughly comprehend your music teaching business, respond to your queries, assist you in linking your accounts, and guide you through how Bench can support your operation.

We do your bookkeeping

Every month, your dedicated bookkeeper will sort through your music teaching business transactions and create comprehensive financial reports. If they require any further details from you, they’ll promptly get in contact.

We deliver tax-ready financials

Our expert team is well-versed in the tax intricacies related to the music composing industry and will tailor their methods to meet your business' distinct requirements.

Here’s why music teachers like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

As a music teacher, we understand your schedule is filled with lessons, planning, and practicing. That's why Bench Accounting is here to consistently keep you updated on your bookkeeping status. If you have urgent queries that simply can't be put on hold, we promise to respond to you within one business day or less.

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Guaranteed accuracy in every detail

Our platform empowers you to automate data inputs from most major providers, eliminating the worry of common errors. We collaborate with merchants such as Gusto, Stripe, Shopify, and Square, ensuring your financial records as a music teacher are always accurate.

See where you’re spending. Make smart decisions

Say farewell to the mountains of sheet music and grueling task of manual financial tracking—we automate inputs directly from your linked accounts. Gain insights from a single consolidated dashboard so you can effortlessly comprehend the financial health of your music teaching business and make educated decisions.

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Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for music teachers

As a music teacher, your focus should be on your passion—imparting knowledge and fostering musical talent—not on puzzling over complicated bookkeeping and tax obligations. At Bench Accounting, we understand the unique financial challenges you face. Music teachers often juggle multiple income streams, including payments for individual lessons, group workshops, and performance fees. You may expend on musical instruments, sheet music, and other resources. The tax laws relating to these expenses and revenue can be incredibly confusing. This is where Bench comes in.

Bench provides a seamless online bookkeeping service tailored to the specific needs of music teachers. Through our intuitive software, we track all revenues and expenses, ensuring a comprehensive record of all financial transactions. Our team of expert bookkeepers understand the tax deductions applicable to music teachers, including home studio costs, instrument repairs, and professional development expenses. Come tax season, we don’t just crunch numbers—we provide you with a year-end financial package, a neatly compiled statement of your earnings and expenses, ensuring that your tax filings are accurate and take full advantage of all industry-specific deductions. With Bench, you can minimize your tax liabilities, maximize your earnings, and focus on what you do best—teaching and creating music.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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What specific tax deductions can I claim as a music teacher?

As a music teacher, you're entitled to several specific tax deductions. These may include:

  • Home Office Deduction: If a portion of your home is used exclusively for teaching music, you may be able to claim a home office deduction.
  • Professional Development: Courses, workshops, and seminars that polish your music teaching skills could be tax-deductible.
  • Travel Expenses: If you have to travel to teach music, these expenses can usually be deducted.
  • Supplies and Equipment: Instruments, sheet music, stands, and other necessary equipment for teaching could be tax-deductible.

Remember that tax laws can vary, so it's always a good idea to confirm your potential deductions with a tax professional or a bookkeeper.

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How should I track and categorize my income from different sources such as private lessons, school contracts, and performances?

Tracking and categorizing income from multiple sources is an essential part of managing your financial health. Here's how you can do it:

  • Private Lessons: You can create a separate income category for this in your accounting software. Each time you receive payment for a lesson, record it under this category.
  • School Contracts: These could be treated as another source of income. Track each school contract separately, especially if there are differences in the terms of payment.
  • Performances: In this category, include income from concerts, recitals, or any other paid gigs. Keep track of each payment as it's received.

Utilizing professional bookkeeping services can help streamline the process even more, ensuring accurate record-keeping and reducing financial management stress.

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How can I efficiently manage my bookkeeping as a self-employed music teacher?

Efficiently managing your bookkeeping as a self-employed music teacher involves following a few key steps:

  • Track your income and expenses: Keep track of all sources of income, not just from teaching but any side gigs or performances. Similarly, record all expenses, including travel, purchase of instruments, sheet music, or any other professional resources.
  • Separate your personal and professional expenses: Have a dedicated business account and credit card. This will simplify your bookkeeping and make it easier when tax time comes.
  • Stay organized: Keep all receipts and documentations related to your business. Keep a digital record if possible, for easy accessibility.
  • Plan for taxes: As a self-employed individual, you will need to spare some earnings for taxes. Start this planning early.
  • Consider professional help: If managing the books becomes too complex, consider using a bookkeeping service. Bench Accounting offers personalized bookkeeping services that can help you maintain your books so you can focus on your passion for teaching music.
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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Music teachers

Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.

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