Hi, newbie question. What fee do you put in your notary journal. Say you do a signing and are paid $100.00. In the signing they only have 3 notarizations, just say. Now in Md, the fee is$4 per notarization. So, in the journal, would I put $12 for the 3 notarizations or would I put the$100 I was paid. I think it should be the$12 because the journal is for notarial acts, right? I’d like to know so I don’t make an error.
If you are deducting notary fees on your federal tax return you should keep track of the number of notarizations for each closing and multiply by the statutory fee. What you are paid by a signing service would not factor in the deduction.
Thanks for explanation. Helps a lot. I’ll contact you when I get ready to do taxes. Lol.
how do you guys survive at $4 dollars per notarization in Florida its 10.00… that’s very low !!
I’m moving. Lol
Your right. It sucks.
Do LSA work with direct clients and not touch GNW(MD)
@redrobinnotary to answer your direct question, journal not required in Florida but I did put fees in it to back up my Schedule C - I’d enter the whole fee but like this
If doing one notarization for $50 (we can charge $10/notarization in FL) - I would enter “10/40” indicating $10 for notarization and $40 travel/time/service fee.
I also kept a separate log of monies received - 5 columns - date, payee/job, notarization fee, travel/time fee, total - also to back up my Schedule C.
Hope this helps.
Yep, I haven’t touch just GNW since June 2007.