Posted by RickG/CA on 1/22/08 10:12pm
Msg #231935

Taxes: I Think I Missed The Message

Form i1040sse states that Notary Fees are exempt form Self Employee Tax. Nowhere do IRS regs state that Notary Fees are exempt form income or have any affect on Schedule C (P/L From Business) right?!?!

Thanks for clarifying.

Reply by Becca_FL on 1/22/08 10:58pm
Msg #231940

Notary fees are exempt from self employment tax, but NOT exempt from income tax. Do a search and find your answers. Also, consult the IRS website and a tax professional.

Reply by RickG/CA on 1/22/08 11:14pm
Msg #231943

Thanks for your response Becca.

I actually used the seach and there were many comments about Notary Fee being "exempt from taxes". <<Yes and No, only the SE Tax.>>

I had it right, just needed confirmation.

Will be meeting with tax pro tomorrow and getting all the little ducks in a row.

Reply by Becca_FL on 1/22/08 11:58pm
Msg #231946

Rick, you're in Orangevale! So is my sissy.

My BIL is a LO, maybe you two could hook up?

Reply by RickG/CA on 1/23/08 9:57am
Msg #231982

Re: Rick, you're in Orangevale! So is my sissy.

Y'all a bunch of night owls.

Becca, if you wouldn't mind, please send your B-I-L contact info. I'd like to contact to see if we're a match made online, across the country, in my very own backyard!?!?

Reply by BarbaraL_CA on 1/23/08 1:02am
Msg #231955

Here is a link with info.

From the Tax Guide for Small Business 2007 Edition
for those who use Schedule-C or Schedule-C-EZ
www.irs.gov/pub/irs-pdf/p334.pdf

It's a pdf file, so click on the binoculars and search on notary

Hope this helps.
I had to make copies for my tax consultant the last 4 years!

Reply by RickG/CA on 1/23/08 10:14am
Msg #231986

Re: Here is a link with info.

T/Y Barbara - I was just having a minor panic attack when I posted the original message (was expecting tax appoint soon, not the next day).

All is back to normal, my duckies are all in row, my drop dead gorgeous wife has the tax info, and we have a slight rain coming down.

Now, if I could just get a few more appointments booked for the month.