Posted by GFBSNotary on 2/20/08 2:54pm
Msg #236256

Notary Fees

Can anyone tell me is this is true?
The notary fee(s) are tax exempt?
And... how do we show this or deduct this if this is true..?

Reply by MistarellaFL on 2/20/08 2:56pm
Msg #236257

Are only exempt from self-employment taxes.
Your tax professional should be able to assist you,
I use a program that addresses that particular.

Reply by Teresa/FL on 2/20/08 2:56pm
Msg #236258

The portion of your fee you can attribute to notarial acts is exempt from the self employment tax only. You still have to pay federal (& state) income tax on all income.

Reply by ALL SONOMA MOBILE NOTARY - Judith Neeley on 2/20/08 3:01pm
Msg #236260

And travel fees are not exempt, only signing fee

Last I knew, anyway.

Reply by Teresa/FL on 2/20/08 7:23pm
Msg #236308

"portion of your fee you can attribute to notarial acts" n/m

Reply by ALL SONOMA MOBILE NOTARY - Judith Neeley on 2/21/08 12:35pm
Msg #236378

Yep - signing$ not travel per my tax CPA n/m

Reply by Philip Johnson on 2/20/08 4:08pm
Msg #236277

Try this link

http://www.irs.gov/publications/p334/ch10.html