As a signing agent the jobs are fixed fee. I want to claim the maximum allowed cost ($15/signature in CA) as part of the NOTARY EXEMPT allowance on my federal return.
Example: JOB FEE $100
NOTARIZED SIGNATURES: 6
EXEMPT FROM FEDERAL SELF EMPLOYMENT TAX: $90.00 (6 X $15
SELF EMPLOYMENT TAX DUE ON $10 - DEDUCTIONS (MILEAGE, ETC.)
ONE WOULD STILL OWE FED INCOME TAX ON $100 - DEDUCTIONS (MILEAGE, ETC).
Anyone ever ran this buy their accountant.