Posted by Laura Upton on 12/15/05 8:09pm
Msg #82935

does anyone send Christmas cards to the SS/TC's & a tax ?

Hello,

I am completing my first year as a signing agent. I have a couple of questions for the more experienced notaries.... so thank you for being patient with me~

1) Does anyone send Christmas cards to their SS/TC's that they have worked with throughout the year and say thankyou for their business? or is this practice frowned upon amongst notaries?

2) This is my first year filing taxes for the business. What else besides receipts for supplies, gas, equipment, mileage, and the 1099's that the SS/TC's are going to send me do i need to get ready to file taxes with? From reading posts i see that i need to get them professionally done and file a schedule C.

Thank you for your time, patient and expertise! i dont know what i would do without you more experienced veterans out there for advice~ thanks! Laura

Reply by Teddog_CO on 12/15/05 8:36pm
Msg #82938

Hi ! Laura,

I do send Christmas cards to my clients.
For taxes I've had the same CPA for over 7 years, I much rather he handle taxes so there are no errors. So far, no problems.
Don't forget your Utilities, phones, E&O insurance and any other insurance (dental & health) any tolls you have paid while traveling, advertising and business related materials like cards, pens and postage, but your home office must be used only for your business.

Hope that helps?

Teddog

Reply by Laura Upton on 12/15/05 8:47pm
Msg #82940

Hi Ted! thanks so much! I dont think my utilities would qualify as I live in an apartment and have a home office. Neither would my phone, but the E&O i forgot about, as well as NNA memberships (although i do not know if i am going to renew, i havent found them very helpful).
What kind of advertising do you do? I'm only located here and 123 notary. anything else out there I can look into? and thank you so much for your help! laura

Reply by JanetK_CA on 12/16/05 12:15am
Msg #82966

Keep in mind re: taxes, that for your auto expenses, you need to choose between deducting mileage or actual expenses. You can't deduct both, as I understand it. Your accounting professional can help you clarify this point. (You may want to track both to see which would be more beneficial.)

Reply by PJM/MI on 12/16/05 7:14am
Msg #82981

Re: does anyone send Christmas cards to the SS/TC's & a tax

Yepper.. I send them out to my top vendors and I do get alot in return.

Reply by eXpedN_TX on 12/16/05 9:38am
Msg #83001

Info. on "Are Business Gifts Tax Deductable"

Here's some info. I got from irs.gov

"If you give business gifts in the course of your trade or business, you can deduct the cost subject to special limits and rules. In general, you can deduct no more than $25 for business gifts you give directly or indirectly to any one person during your tax year. Exceptions may apply. For additional information, refer to Tax Topic 512 and Publication 463, Travel, Entertainment, Gift, and Car Expense . "

Reply by Mitch_MD on 12/17/05 12:01pm
Msg #83133

Yup! It's a good...

...way to thank them for their business with you during the previous year and keep your name in the forefront. As for the tax question, shop around for a CPA to assist you and you'll likely miss being one of the folks being audited by the IRS.