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Tax Write-Offs for Notaries

Tax Write-Offs for Notaries - What You Need to Know!

As a notary, you might be thinking of getting a tax preparer to help with your taxes. Surprisingly, tax preparers don’t offer assistance to notaries for free. If you want them to look at your taxes and give you advice, there will be a charge. Are they worth it? You might think that since you file fairly simple tax documents, you don’t need any help. But what if you could save some money on the fees and get some advice from someone who understands notaries and their unique situations?

Then this guide is perfect for you! Here we will go over some of the most important things every notary needs to know when it comes to taxes. Read on and learn how getting a few tips from an expert can help take the stress out of filing your taxes as a notary!

 

Tax season can be tricky for notaries!

If you’re a notary, you might feel like you don’t need help with your taxes. You file fairly simple tax documents and know...

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Tax Tips for Your Notary Business: The Notary Beginners Guide

Tax Tips for Your Notary Business: The Notary Beginners Guide

Starting your own notary business is an exciting time! It's also very scary, and taxes can seem like one of the most daunting parts of this process. However, taxes are an unavoidable reality for small businesses. You may be tempted to put off preparing your taxes until the last minute, but it's important to file your taxes before April 15th to avoid penalties. Preparing your taxes can be overwhelming, but here are some tax tips for you to help you get started with your filing.

Filing W-2s and 1099s

As a notary, you're responsible for filing W-2s and 1099-MISC forms.

When you file your taxes, you'll have to submit an employee's W-2 form if they had wages of more than $600 for the year. If they did not have wages of more than $600, but had income from 1099-MISC forms, you will also need to submit a 1099-MISC form. Signing companies will provide notaries with a 1099-forms

Tax Calculations for Notaries

Notaries will first...

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Notary Signing Agent Ultimate Supply List

 

Notary Signing Agent Ultimate Supply List

A notary signing agent's day-to-day responsibility can vary depending on the type of loan being signed, the lender they work with, and their level of experience. However, you can be sure of one thing—you’ll always need the right notary supplies to get the job done! But what are some examples of these essentials? 

notary signing agents have a lot to worry about. You need to know the loan documents inside and out, you need to know how to use the equipment at your disposal, you need to know how to make sure everything is in order. Agitate: And yet, one of the most common problems for new loan signing agents is not having the right supplies on hand when they need them.

A Guide to the Supplies You Need as a notary signing agent is here with everything you need to get started in this industry. We’ve got all of the information you need on the supplies you’ll need for loan signings, what they do, and how they can...

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Top benefits of incorporating your notary business

notary business setup Oct 04, 2021

Top benefits of incorporating your Notary business

One of my most popular blog posts is this one, which is about the top benefits of incorporating your business. Here are some of the benefits of incorporating your business, which most entrepreneurs don't think about, but should.

 

The Advantages of Incorporating Your Business

 

The advantage of incorporating your business (and it's also one of the things that stop many new business owners from taking the leap) is that it can help you manage your assets more efficiently. The valuation and taxation of your business are generally much simpler than if you were running it as a sole trader and under UK tax law, you may be able to structure your business as a limited company (like the web-hosting company I own), which means you pay less tax.

 

You may also be able to invest in some of your shares for the first time since the share price will be based on the value of the company (and a lot of companies are share-based, which...

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How to know if your mobile notary business idea is worth pursuing

notary business setup Oct 04, 2021

Is mobile notary the right business for you? As you may have noticed, there are a lot of notary services out there. And most of them are mobile. So, is a mobile notary the right kind of business for you? It’s not always easy to tell. There are a few questions you can ask yourself to help make your decision.

 

Is Your Mobile Notary Business Worth Pursuing? 4 Things To Consider

 

Is mobile notary the right business for you? As you may have noticed, there are a lot of notary services out there. And most of them are mobile. So, is a mobile notary the right kind of business for you? It’s not always easy to tell. There are a few questions you can ask yourself to help make your decision.

 

 

What Is Your Intent?

 

The first thing to consider is whether or not a mobile notary is your intention. If it is, consider asking if the mobile notary is something your potential client is looking for. If not, you may need to look into other options.

 

Do You...

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What does it mean to be an LLC

notary business setup Oct 04, 2021

What It Means To Be An LLC: The Importance Of Having A Limited Liability Company

 

An LLC is a limited liability company. The word "limited" in this context means that the members of the LLC have limited liability for the company's debts and obligations. This means that if the LLC cannot pay its debts or obligations, the creditors cannot go after the personal assets of the LLC's members.

 

 

What is a limited liability company?

 

An LLC is similar to a corporation, but there are important differences. A corporation is an incorporated entity, and to incorporate it, you must have a state-issued business license and federal tax identification number. A limited liability company has fewer rights and protections, so the members do not have liability for debts or obligations.

 

You do not need to incorporate an LLC. You can incorporate without incorporating the LLC. However, incorporation is the best way to minimize the liability that a business could incur as a...

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How To Decide on the Right Business Structure for Your Notary Business?

notary business setup Sep 30, 2021

 

How To Decide on the Right Business Structure for Your Notary Business

 Starting your own business is exciting, but it can also be scary. One of the first decisions you need to make is what type of business structure to use. Will you be an LLC, S-Corp., or sole proprietor? What are the benefits and drawbacks of each? This blog will walk you through the basics so that you can make an informed decision about which type of business structure is best for you.

 

The Basics of Business Structures

If you are not familiar with business structures, then you might be wondering what they are and how they work. The business structure you choose can play a major role in whether or not you have a successful notary business. What is the difference between an LLC and an S-Corp? An LLC is a corporation that is set up as a pass-through entity. That means that it does not pay taxes to the federal government, it takes in fees and levies, but then passes the majority of its profits to...

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Notary Loan Signing Agent Training

The Notary Institution is creating a new and improved online notary loan signing agent course training.