So I am reading and a lot of seasoned NSA’s are not getting much work as opposed to before. I am a new NSA and just got my RON digital certificate. I have an LLC and am wondering if I should dissolve it? I feel like the cost of keeping it may not be worth it. Trying to get into inspections, but even that is slowing. Can anyone give thoughts. I know the decision is ultimately mine, but some guidance would be so helpful. It’s COSTING me monthly and I’ve made ZERO!
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Best bet? Discuss with your attorney or CPA … they are the ones who can answer this best based on your own personal situation and circumstances
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@Windchime71 Concur 
percent with @LindaH-FL as I couldn’t have expressed it better than she has above for the identical reason that she identified.
P.S. There is MUCH valuable, insightful, & helpful information found within this thread that correlate & are tangential to your topic:
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Problem is, I don’t have a CPA or an attorney. I just began in December 2022 and Legal Zoom did everything. I haven’t gotten any closings, so I’ve had no need for a CPA as of yet. So I’m at a loss. I don’t want to give up, but seasoned NSA’s are saying there’s little work for even bother at this juncture. Thoughts?
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@Windchime71 I’ve reviewed all your posts on the forum & was unable to locate information within those posts regarding where you received your training.
Would you identify where you received your training please? Thanks!
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I can’t speak to work availability or lack of such -only what I’ve read on the various forums. Demand is dependent upon location - along with your marketing skills/endeavors and, sadly, what you and your business can offer - experience, training, strengths and weaknesses.
As far as your business structure, you may want to contact your local SCORE for advice/guidance. Also research what is required for you to do business where you are. For example, my county in particular requires I have a business license - but no state licensing is required other than, obviously, my commission. You’ll also want to find out exactly what benefits an LLC affords you in your state vs corporation or sole prop
Best of luck
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I took Blueprint Notary Signing Course through Jon Snedeker. I am NNA Certified and E & O bonded/insured for 100k. Have my RON digital certificate and took my courses through Huckleberry. But took my NSA through NNA too.
Thank you so very much!
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Also, I live in St. Petersburg, Florida and a lot of people moving here. I do wonder if I should pick up business cards at realtor’s offices, title companies and try to get a 5 minute meeting just to introduce myself? Then send a thank you note with a gift card for Starbucks. Thoughts? Or am I too green? The blueprint course I took said to map out areas I want to work, get business cards and call or email to try to get a quick meeting. Then send a thank you card. Bills relationships.
@Windchime71 Truly, those training Resources are going to be able to provide you with the most direct guidance in this regard.
You also may want to circle back around to Legal Zoom for their input as well.
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Plus, the direction from @LindaH-FL regarding input from SCORE may prove insightful; however, one caveat . . . is that when I worked with them a number of years ago, the advisor stated that everything was FREE/No Charge for the assistance => but then, the guidance/direction began being “held hostage” as the advisor said things along the lines of: “Well, I do have input in that regard, but the fee for that is $100/month.” or other such statement.
Of course, as a fledgling at that point in time, I walked away at that time as it was too rich for my blood.
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What is SCORE? I’ve never heard of them?
To what Linda said, in Florida, an LLC in my situation is best. All licenses have been taken care of. This from Legal Zoom. But no doubt I should reach back out. But they cannot give legal advice.
I would 100% keep the LLC. Notaries work with start up title companies or a bunch of signing companies that get access to SSNs. I do not feel safe using my SSN. For this reason alone to have an EIN and separate from my personal it is worth having an LLC. It is a layer of protection for your personal information. It does cost me annually to file my report with the state. There is a small state renewal fee. I no longer pay for a website and have reduced my work expenses since the mortgage slow down but the LLC is what is still worth it for me along with my NSA credentials.
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Thank you so much! I also feel uncomfortable giving out my SSN. I give my EIN and have a separate bank account. Do you recommend calling title companies and trying to meet them briefly to be their “go to?” I’ve signed up with signing services and have my RON too. What do you think is the best approach for title companies? Many say newbies shouldn’t approach them. Thoughts?
What is the cost of keeping the LLC? I’m in Missouri so I’m just curious.
Keep in mind that each State has it’s own business code in their legal codex. For example in Texas it costs $300 to form an LLC that holds for 10 years before renewal. I set up one LLC and nested my other businesses under the LLC as either nested LLCs or DBAs. This provides a layered protection.
Things to consider;
- How often does your State require renewal of your LLC?
- You can keep your current LLC and use it for General Notary Work until things improve.
- You should be able to change the name of your LLC and nest a new business venture under the LLC using a DBA. This is what I did. Both my Notary and Tax Businesses are nested under my LLC.
Seek the advice of a qualified professional who knows your State’s business regulations.
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@RiverpointeTax on this statement, with change of business name - would she not have to retire her old EIN and obtain a new one? Also, as to “nesting other companies” doesn’t she need to obtain a new EIN for each one?
Just asking out of curiosity. This is why attorneys or tax pros or CPAs are worth their weight in gold.
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That’s a good question.
Changing the LLC name would require a new EIN. Easy to do.
Nested companies do not need EINs for each as long, as all income is reported through the top level EIN. You provide your clients (SSs, TCs, Law Firms, etc) with the EIN for the top level LLC. As long as you have DBAs set up correctly the checks/payments can be issued to the nested company.
Nesting LLC’s is common practice as it makes income reporting much cleaner. It also allows for business losses with one nested company to be written down by the top level company. For example, due to the decline in NSA work and non-paying SS, I’ll be able to take these write downs against my Tax Business income reporting, reducing tax liabilities. This is why I encourage every small business owner to engage a Tax Professional. The cost of hiring a Tax Pro up front is far less than hiring one later to fix a problem after the fact.
This is not considered Tax or Legal advice as your situation has unique circumstances and reporting requirements. Always seek the advice of a qualified professional.
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Love the direction and information… love the disclaimer too… CYA…. Lol
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Great advice and thank you. Navigating this can be very overwhelming at times. Especially in times where you’ve just begun and things went South. Huge investment of time and money. Don’t want to just give up. Hopefully things will turn around soon. In the meantime, back to work full-time and do GNW where I can and work my business plan for the future. Thanks to you all again for your guidance. 
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