Reply by Barb/MO on 8/27/07 10:24am
Msg #207852
Your signing agent fee isn't tied to statutory notary fee
As a signing agent, you are entitled to greater compensation than you would be for simple notary duties. That is what your signing agent fees are based on, taking into account a myriad of factors, including the value of the services provided, your costs, experience, etc.
The only way in which the statutory fee comes into play as to signing agent assignments is that you will want to keep track of how much your statutory notary fees come to in light of the number of signatures or documents (whichever yours is based on) you notarize within a document package. The value of those fees can be subtracted from your revenues when computing your self-employment tax.
This issue comes up for discussion from time to time. You might try an orange-button search for more information in this regard. In fact, it's a good idea to run a search before asking any questions, as every newbie question has been addressed multiple times before. In fact, if you haven't already done so, I urge you to check out Message # 33325, which is a wealth of information on all kinds of issues we face.
Good luck!
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