Posted by vanot99 on 3/13/13 8:12pm
Msg #461071

Virginia Notaries-Business License?

Do any of you have business licenses for your NSA biz? I have been doing this for several years and have never applied for one but my CPA thinks I need to get one. Seems like and invitation for trouble...am I wrong?

Reply by CopperheadVA on 3/13/13 8:18pm
Msg #461072

No business license, but my county requires that I register with them so I can pay business taxes. The Feds shared my Schedule C with my county and the county taxes me on my business equipment that I wrote off as expenses on my Schedule C.

Reply by MW/VA on 3/14/13 10:19am
Msg #461123

Yes, I set up my biz with a business license & registered

with the state on an LLC. I set it up to be legit, even though it's all about collecting fees & taxes. I work out of my home & don't want it to come back on me later that I wasn't "legal". I know many notaries that aren't doing any of that though.