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.