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Guitar Blog Q and A:
Taxes and Being a Guitar Teacher

Q: Do you have any insight about taxes being a guitar teacher. Since that counts as self employment and there's a whole mess of other things that goes along with it, do you know what I have to do to claim for my lessons?

I have 25-30 students on average and I was wondering where to start with taxes. I know I should keep all receipts and record all of my income and expenses but what else?

A: What I did was hire a good accountant the first year I was in business. Like you, I had no real idea where to begin tracking things for taxes. It costs a few bucks - but it's worth having your books straight come tax time.

I'd also suggest using a book-keeping program such as: "Quickbooks."
I personally use Quickbooks Basic 2005, (software runs about $20.00 - $40.00 used and $200.00 and up brand new). It is absolutely excellent software. I'd highly recommend it.

- Andrew

 


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