Posted by Murray Ackerman on 3/22/13 10:37am
Msg #462531
Social Security Tax for Notaries
Social Security Tax for notaries
For my fellow notaries FYI. I'm sure your interested in Self employment tax (aka Social security tax) 2012 Instructions for SE(form 1040) page #5 bullet #2
Fees received for services performed as a notary public. If you had no other income subject to SE tax, enter "Exempt-Notary" on Form 1040, Line 56. Do not file Schedule SE. However if you has earnings of $400 or more subject to SE tax, enter "Exempt-Notary" and the amount of your net profit as a notary public from Schedule C or Schedule C-EZ on the dotted line to the left of SE line 3. Subtract that amount from the total of lines 1a, 1b and 2, and enter the result on line 3. .
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