SamIam,
I have information I received that supports the responses to this post.
Bookkeeping for me: I split what is notary and what is signing. If I am paid $150 and I did $160 in notary work than all $150 goes to notary the other $10 you just say oh well.....
According to IRS this past year they informed me if I get a lump fee I am a signing agent and nothing is exempt from SE tax. I know their hand book states you do not pay SE Tax on notary work and this is how I choose to do my accounting.
I did go to a CPA this year and when he completes a return for a signing agent he does not use the notary income when figuring SE Tax due to the IRS hand out on Notaries and SE Tax.
The choice is up to you! Hope I did not confuse you.
Lori
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