Hope you all received your 1099. Please check the amount , against record of payments received.
I received a 1099 from SKYE CLOSINGS for 2017, however I did not do any work for them in 2017.
I contacted them and they told me that the had an issue with BILL.com . However, I was paid a small amount for work done in 2016, around Jan or Feb 2017. Never did any work for them though. So based on 2017 income received , they generated a 1099. It was to the tune of $6000+. …The actual payment in 2017 was more like a $700
Mistake or Fraud, this is unacceptable. I cannot expect an excuse for this as a mistake.
I have asked them to correct it and also send the IRS the corrected amount.
IRS has very little recourse or forms or procedures to challenge a 1099, once it is issued, whether by mistake or by intent of fraud.
You have the responsibility ( Cannot believe it) to actually report the false amount sent on the 1099 and then explain why you are reporting less and show it as correction on your schedule C or other appropriate forms.
That means additional expenses in your Tax filing , since the tax preparer charges more for extra forms / effort.
UGGG!! Signing companies are finding more and more way to screw notaries !!
Low fees, Late payments , Defaulting on payment , Now Fraudulent 1099’s
This year I received a 1099 from SnapDocs. I did not receive one last year. The companies that use Snapdocs should be sending this form, not SnapDocs itself, correct? Can someone tell me if this 1099 is fraudulent? The amount does not match any of the 1099 amounts generated on my normal bookkeeping reports. Thanks, folks.
Only if the title or signing service , paid snap docs to pay you , then you get snapdocs to keep their commission and issue you payments. Anything more than $600 from them you will get a 1099 from them ( snapdocs)
Others use snapdocs just to send papers / orders back and forth.But the check is cut from them directly.
So you will have to keep track of every order / amount / who paid you / when they paid you / distance you travelled / other expenses.
As business expenses, NOTARY FEES ( State minimum Fee) , Distance travelled back and forth from home, and other car maintenance , portion of home office , printer and supplies, are all tax deductible. Good luck
Fees received for services performed as a notary public. If you had no other income subject to SE tax, enter “Exempt—Notary” on Form 1040, line 57. Don’t file Schedule SE. However, if you had other earnings of $400 or more subject to SE tax, enter “Exempt—Notary” and the amount of your net profit as a notary public from Schedule C or Schedule C-EZ on the dotted line to the left of Schedule SE, line 3. Subtract that amount from the total of lines 1a, 1b, and 2, and enter the result on line 3…
However other expenses related to closing such as mileage deductions as per distance traveled back and forth, cost of ink paper and other supplies, cost of incurring travel to Staples or Office Depot…, Cost of multiple visits, including the mileage incurred when there is a no-show or no signing happening…
As long as anything is related to legitimate business related efforts, such expenses are deductible. So one got to be really hawk-eyed, and nickel-and-dime every expense that you incurred and possibly list them in a separate spreadsheet.
That is the only way to maximize one’s profitability especially when we are working for such low fees.
I can only speak for Snapdocs and yes it is legitimate. I was in contact with them to verify the 1099. If you go to the ‘accounting’ part of the dashboard it will show all payments, just look for the green lettered “vendorPay” for each signing.
These will be the items that were summarized and placed on the 1099. They did not think to provide a list of the signings that the 1099 covers. It makes an accounting nightmare because you have to back out these signings from your income totals.
I added a column on my spreadsheet job log to identify these exceptions. The other problem is that they show CA as state earnings.
DO NOT COMMIT the Stupidity of adding your NON SNAPDOC signing information into it.
They will take that information, contact that signing / title company and help drive prices down and You will be wondering what you did wrong that signings have reduced or prices went down.
Well, that’s a common issues when speaking about the companies from SnapDocs. Better to request 1099 from them directly, there are some paid services to do so: 1099-misc-form.pdffiller.com or taking a template from the IRS and send them
