The Mudcat Café TM
Thread #86032 Message #1598579
Posted By: Mooh
06-Nov-05 - 07:59 AM
Thread Name: Private music teachers - your policies?
Subject: RE: Private music teachers - your policies?
Pauline's point of keeping good records is important. I don't do my own taxes anymore, having found a great accountant, so I (with my wife who used to be a banker) keep meticulous books. Every penny in and every penny out is recorded. Back when the money trickled in lesson by lesson, much of it in cash, we raided the cashbox too much, but now everything is banked and it takes a trip to the bank to get at it.
The year's worth of cheques are kept in our safe deposit box, so there's no risk of theft from our home/business. Nonetheless, I'm well insured for the usual household and business coverage as well as personal liability.