5 income tax tips for Notaries and Signing Agents (2024)

Thank you so much for all the informative topics you share and educate us.Keep up the great work!

As a mobile Notary, a typical re-fi signing has 6, 8 or more Notary seals. In FL, if $10. per Notarization is applied and entered on form SE, this amount in some cases would completely negate any income from the signing. How are Notary fees separated from the overall fee paid for the signing? This is very confusing.

We all work very hard in this business to overpay our taxes.

HOW MUCH CAN WE DEDUCT FOR EACH JURAT AND ACKNOWLEGDEMENT?

Hello,Please see Tip 1, "Reporting Notarization Fees," above.

How can I get a copy of my last renewal application?

Hi Melanie,So we can better assist you, can you please contact us at social@nationalnotary.org with more details of what documentation you need what state you are commissioned in and the best way to contact you, please? Thanks!

I'm a new NSA. This is great information.

Let's clarify about SE taxes. The actual notary fees are exempt from Federal SE tax; however, just because you CAN take the SE exemption doesn't necessarily mean you SHOULD. Taking the exemption can have affect your future Social Security benefits, as well as disability benefits. NSAs should review their situation with their CPA or EA to determine whether or not taking the exemption is best for them.

Hello. Information from the IRS regarding Notary fees and self-employment tax is available on page SE-5 at this link: http://www.irs.gov/pub/irs-pdf/i1040sse.pdf

Your comment about keeping accurate records, is great. They can help income tax preparation go a lot smoother. I also specifically like your comment about making a detailed log of your information, such as mileage. Thanks for sharing your information.

The correct day to file your Income Tax Return is April 18, 2016 .Thank you!!!!

Thank you for letting us know! We've updated the stories to the correct date.

Speaking as an enrolled agent who is also a notary I wanted to point out that the home office does not need to be a separate room. You can get the deduction even if you use a portion. For example you have an open concept first floor of 1000 sq feet in your 2500 sq ft home. Your "office" is a corner comprising 50 square feet. You can use that 50 sq feet for calculating a deduction. Alternatively even if you have a separate room you may not be able to deduct the whole room. Let's say you remodel a 500 sq foot basem*nt to use an office. Unless you can explain why you need such a large office, an auditor is likely to allow only a portion, especially if the main use of the office is only storage of notary supplies and bookkeeping

Does a conference call, or phone calls only held in that location of your home qualify as a meeting place with and for your clients/customers?

Hello Evelyn. For questions regarding special case or unusual deduction claims, please contact a qualified tax preparer or tax advisor.

The ten days waiting (cooling of) period for a contract cancellation signed December 23, 2015, taking into consideration holidays of the 25th of December and January 1, 2016, when is the valid day for cancellation within the law?

Hello. We cannot provide legal advice regarding cancellation of a contract. Please consult a qualified attorney for assistance.

Thank you for the information. This year is particularly tough. I bought a new car when my old car blew up. And I'm having a heck of a time figuring out how to input this information. Any advise?

Is it true the first $600.00 one earns from each signing company is tax deductible ?

I didn't find any mention of deducting fees for each notary seal in the publication. Is this even a real thing? I don't want to pay H & R Block $75 dollars to find out it isn't a real deduction. Thank you

Sandy, we're sorry but because every Notary's tax situation is different, you would need to speak to a qualified tax attorney or tax preparation professional to ask about any deductions regarding your Notary seal.

I perform Notary acts at my current place of employment. At this time there are no fees (customer or non-customer) but my employer is considering charging a flat fee. Can my employer charge for my notary services?

Hi Jean. To help us answer your question, can you please tell us what state you are commissioned in?

As a provider of Notary Public service, I depend on the income from this service as a small business operator. What items should I include on the IRS Tax form?

Hello. IRS Publication 17 has information on reporting notarization fees on your income tax: https://www.irs.gov/publications/p17/index.html

This is a great inspiring article. I am pretty much pleased with your good work. You put really very helpful information. Keep it up. Keep blogging. Looking to reading your next post. Tiger Financial Service provides insurance

Notary Tax Info

Is it safe to use 3rd party such as notary gadget to keep book keeping info for taxes

This is a good start to collecting tax info... anything you need/use for your business can be written off....its possible to write off your lifestyle....good record keeping is the key!! And the knowledge of how.

Tax info for Notaries is difficult to find. Go to: IRS Publication 17. page SE-5, center column, Para 2.

I highly agree that people consider keeping tax-related data is usually neglected. It does not hurt to keep track of records when your money is at stake. If facilitated well, these can highly benefit everyone in the business. If ever, I will need an enrolled agent to help meld my ideas in my small business.

What business code should a Notary Signing Agent use when filing?

Hello. We apologize, but we cannot answer specific tax questions about your personal business situation. If you have tax questions about your business model, please contact the IRS or a qualified tax advisor for assistance.

I am a certified tax preparer in CA. I have created a detailed spreadsheet in order to track all of my income and expenses from my business. For each signing, I take the fee paid and divide it by the number of notarizations. Any amount that is greater than the maximum of $15 a notarization (for CA) is considered regular business income. This is helpful to enter in the fee earned for each notarization in my notary journal. I can also track my cost for printing each loan package, travel mileage, tracking numbers, and when a job has been paid. I may post a template of my spreadsheet to YouTube if the response is great enough.

I'm an engineer and I got my notary stamp on the side. If I choose to charge $5 per stamp, do I have to report that on my taxes even though it's not my job/business?

Hello. For general information on reporting Notary fee income, please see "Reporting Notarization Fees" above. We apologize, but we cannot provide specific advice about individual tax returns. If you need additional information about your personal tax situation, please contact a qualified tax preparer or tax advisor.

Bode the Notary...I'd be very interested in obtaining the spreadsheet you spoke of. I give the NNA permission to provide Bode the Notary, my contact info.

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

Bode the Notary I also am interested in your spreadsheet. I give in and a permission for you to contact me also or for posting. Thank you!

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

I’m very much interested in viewing Bode the notary's spreadsheet. I have been a NSA for over 15 years and just learned about SE tax on notarizations in 2017 from the owner and developer of Venbooks notary software. I’m so thankful, through conversation, he informed me of SE tax as it pertains to notarizations. Luckily, I was able to have my CPA amend tax years 2015 and 2016 prior to the three year statute of limitations. The amendment of 2015 and 2016 tax years resulted in a return of over $10,000. Unfortunately, the statute of limitations has long since passed for tax years 2004 To 2014. I’m interested in learning how other NSA’s write off expenses. Currently, I record each page I print per signing, each notarization, and mileage to and from the closing address as well as mileage to and from UPS/Fedex. If other notaries record each page printed as an expense rather than price of paper purchased. How much do you allow per page as an expense? Ex: 100 pages at $.10 per page etc.... During all tax years beginning in 2004 to current I filed as a sole proprietor and a CPA prepared my taxes.

Hello. Any tax questions about your specific financial situation should be directed to the IRS or a qualified tax preparer.

Hi I’m new at being a Notary. I’m thinking of doing NSA? I wanted to ask if we are doing this for self employment do I need to apply for a dba and a tax ID number?I want to make sure next years taxes are done right!Thank you for your attention to this matter!

Hi Judy.We would recommend contacting your local city or county agency that registers business names to find out if you are required to register a dba in your area. Any questions about your specific business income tax situation or applying for a tax ID number should be directed to the IRS or a qualified tax adviser/tax preparer.

Bode the Notary, I'd love to have access to your spreadsheet. I give NNA permission to provide Bode the Notary my contact information.

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

Hi, I am a Loan signing notary in MD, we must have a Title Producer License, which costs a few hundred dollars to get (Mandatory 20 hour class + paying to take the test, requesting the license after passing the test). Are these fees tax deductible?

Hello. You would need to contact the IRS or a qualified tax professional to answer any questions about individual tax deductions.

I was wondering if can you deduct notary stamps and recertification on taxes?

Hello. You would have to contact the IRS or a qualified tax professional to answer any questions about deductions for your personal income tax.

After reading the statement about the spreadsheet by Bode. I would like to have copy of the spreadsheet. Therefore, I give NNA permission to provide Bode my contact information. I’m thankful for all the information that I’m receiving to assist me on my journey. Thanks very much NNA!

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

Hi, Bode the Notary! I would definitely love access to your spreadsheet! How would that be possible? I give permission to the NNA yo provide my email. Thank you!

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

Bode the Notary, I would love a copy of your spreadsheet as well. I give NNA permission to provide my contact information to Bode. Thank you and happy holidays!

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

After reading the statement about the spreadsheet by Bode. I would like to have a copy of the spreadsheet. Therefore, I give NNA permission to provide Bode my contact information. Thank you for all the information that I’m receiving to assist me on my journey. Thanks very much NNA!

Hello. We're sorry but for privacy reasons we cannot provide the contact information of persons posting here.

Notary Earth tracks my notarization fees. Highly recommended.

All notaries do have 2 pieces of record keeping of fees paid: in the notary journal, your fee per signer (or 0 if no fee charged, like I do for individuals active or veterans in the armed forces) and a receipt for services rendered; example: travel fees, typing dictation, etc. other than that, your mileage and office space plus supplies. Easy peasy.

How and where do I file my earnings as a part time notary signing agent on my tax return? I have a full time job and do the signings on the side. I found out the escrow company that I take the signings from does not issue out 1099 forms to any of the notaries they use.

Hello. We apologize, but we can only provide general tax information in this article. For assistance with specific individual tax return details, you will need to contact the IRS or a qualified tax preparer.

Just look her up on Facebook and send her a private message. I just sent her one.

I am currently using Loan Signing income to supplement my Social Security income. Do I need to file taxes if I don't have and self employment taxes to pay ? and if so at what point.

Hello. Your best course would be to contact a qualified tax advisor or tax preparer, or the IRS to discuss your individual income tax situation.

Great Newsletter!!

I would like to know what the tax deductible for the seal and supplies that was brought and becoming an enrolled agent how do I do that I usually receive new letters I haven't received any yet the sensor while back now I will continue with my notifications

Hello. Please contact the IRS or a qualified tax professional regarding any questions about possible deductions for your individual tax situation.

Thank you, great information I'm new to NSA.

I am finding that on your information/comment pages that the comments are not current. Don't you think that comments should be relevant to the times and not over a couple years old?

I just open an office, where can I get the form to change business address?

Hello. If you are referring to notifying your state Notary agency of a change of address, please let us know what state you are in and we can provide the appropriate contact information.

Can a New Mexico notary public, who is mobile and online, charge sales tax? I called a Notary who said he charges sales tax on credit card transactions. How can I find information about the taxes i need to charge and pay as a Notary public LLC?

Hello. You would need to contact the IRS or a qualified tax advisor authorized to provide tax advice to answer questions about sales tax requirements for your business.

I am an active Notary around Charlotte areas looking for Loan signing opportunities and resources to get started. Can anyone answer?I appreciate it in advance.

Great information much needed

Who issues the 1099 NEC to the independent Notary for services rendered? The Escrow Or Title Co., the Lending institution or the signer on a Loan signing appointment?I have never seen any of those three sending me any 1099 NEC in my 25 years as a Loan Signing agent. Never, period. They just send me a check or pay with a credit card, after I send the person who made the order, my payment demand. The reason behind is that Escrow only issues the check, the lender does not order the signing, the Buyer and seller pays the 50/50 of the fees. None of them want that payment to show in their tax declaration….. ultimately: I have never seen a 1099 from any of them to me for services render; but I do have receipts and records of the assignment and I declare it on my 1040 schedule C

Hello Bode the notary.. I would be interested in checking out your spreadsheet you made. Can you email it to me if you have the time and see this message! Also thank you for all the info it helps me out personally a lot and I am greatly appreciative for it. Thank you! Stay awesomeness everyone!