Posted by MonicaFL on 1/17/06 10:18am
Msg #88769

Tax Question for PAW/FL

Paul, we are in Florida and you have been doing this for quite some time, my question to you is: The Statute says we can charge $10.00 for notarizing a signature. Does this mean that when you have two borrowers and 10 pages to notarize, (and considering I am notarizing two signatures) that I can only charge $20.00 for the notarization? Or, can I charge $10.00 for each time they sign and I notarize their signature? I am asking this because I need to know how much I can claim as notary fees - when it comes to actually notarizing. Hope this makes sense. thanks.

Reply by Becca_FL on 1/17/06 10:23am
Msg #88771

I'm not PAW, but the answer is $10 per Notarization or stamp. One stamp = 1 Notarization no matter how many siggys there are. See your manual if you have further questions.

Reply by srnotary_CA on 1/17/06 10:24am
Msg #88772

I thought it was per signature so if there were two borrowers it would be $10.00 for each signature. I guess I need to look at my handbook as well.

Reply by Becca_FL on 1/17/06 10:32am
Msg #88779

srnotary

In Florida it is per stamp. In California it is per signature. Please rember each states Notary laws are diferent. Thus, the importance of posting the state(s) that you are commisioned in.

Reply by srnotary_CA on 1/17/06 10:34am
Msg #88781

Re: srnotary

I just realised that. Sorry haven't had enough coffee. I think I need an IV line set up so it goes directly to my veins LOL.

Reply by BrendaTx on 1/17/06 10:43am
Msg #88788

Re: srnotary - bashing the coffee again?

Poor coffee...it gets blamed for all the notary's short comings. LOL Too much coffee...no coffee...spilled the coffee...not enough coffee...coffee is the best excuse we got goin' for us.

Reply by srnotary_CA on 1/17/06 10:48am
Msg #88790

Re: srnotary - bashing the coffee again?

LOL I could have said not enough alchohol yet but figured the coffee was the way to go. LOL

Reply by PAW_Fl on 1/17/06 10:39am
Msg #88786

As others have pointed out, the maximum allowable fee per FL Statutes, is $10 per **notarization** (except for weddings), not per signature as stated by the NNA in the FL Primer. So, this means if you do a loan signing and there are 20 times you applied your seal, then you could theoretically exclude $200 (20 x $10) from SE tax calculations. However, you cannot exclude more than you made. That is why is important to keep records of each individual signing that you do, and deduct accordingly. That is, if you only received $150 for the signing (which included the 20 notarizations), the maximum you can exclude for that signing would be $150. The exclusion is based on a per incident basis, and not cumulative over the course of a year.

Reply by thnotary_NY on 1/17/06 2:51pm
Msg #88866

You should live in NY, where it's $2.00. You wouldn't have that *problem* :(