Posted by Joan Bergstrom on 3/4/08 12:45am
Msg #237977

Notary Tax Help

www.eliteplus.biz
is a very good website for "free tax information for notary/loan-signers." What expenses can be claimed as a Notary Public? We are independent contractors.

With our Notary Public business there are many tax advantages and expenses that Notaries can claim. Since Notaries are considered public officials, we are not subject to self employment tax on the amount we charge for each Notary signature or Notarial act.

Each state has different ways we can charge for Notary signatures or Notarial act and this depends on individual state law.

Reply by cassiewi on 3/4/08 6:59am
Msg #237982

Although deducting the fees for notarizations does no good

here. .50 per. If only I could have had $5 or $10 to deduct, my self employment tax probably would have been much less.

Reply by SReis on 3/4/08 7:09am
Msg #237984

This is why I love this site....

I would never have known about this deduction but for this site. Although I didn't it claim it the last 2 years (and don't feel like its worth my time/money to go back at this point), I will be sure to claim it from this point on!!!