I hope the following helps you getting started
If you’re going to set yourself up as a business, go to irs.gov and get an EIN - takes 5 minutes - NEVER NEVER NEVER give your personal social security number to anyone - use your EIN for all your notary work, including using it to report your notary income on our tax return;
Set up a separate checking/banking account for your notary income - keep your personal finances and your business finances separate;
Get some business cards and start passing them out - generate general notary work (GNW) so you can get used to notarizing;
Learn your notary laws - and know them cold - and never stray from them; (for example, we do not notarize jurats - the jurat is our certificate, the document is the document that people either acknowledge or swear to). And NEVER let anyone (hiring parties, personal citizens, etc) tell you it’s okay for you to do something that you are not authorized to do. And believe me, they’ll try - common words “all the notaries do it” - well, don’t fall for it.
Should you decide to move toward loan signings, get a good, solid education on mortgages (unless you already have a background in it) - do NOT jump into the deep end of the notary pool with what may be someone’s most important financial transaction of their life.
6 Make sure you have good, reliable equipment to carry out the work you want to do - good laser printer, reliable cell, laptop if needed, E&O insurance, etc
- Don’t forget - standard E&O will only cover you for notarial errors. If you’re moving into loan signings, anything you do as a Signing Agent, and errors you make while wearing that hat like missing signatures, dates, shipping times, costing a rate lock, etc, will NOT be covered by a standard notary E&O policy; you’ll need either Signing Agent E&O or a Professional Liability Policy.
8 Make sure to check with your county/municipality regarding business license requirements before you go setting your business up - do you need to be registered with the state? Do you need a business license? (Here in FL my county requires me to have a business license).
I hope these tips help you all coming into this business.