Excuse me? Beg to differ - the only thing not subject to self employment tax is your notary fee (the fee allowed by your state for notarizations) - all other fees are subject to SE Tax with credit for allowable business deductions
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I wanted to follow up to see if you do any general notary work. It is much less stressful, no paper either. The clients usually have the docs and when they don’t you can charge to print for them. I had the easiest day today. Showed up, client had docs, took 5 min and I made 65. Drive 10 min down the street, 4 notary stamps on 4 pieces of paper and made 85. I find there’s opportunities in general notary work. I do like doing NSA but general work is nice too as you don’t print and just show up. The time I did print I charged $20 to print. I do prefer NSA but my general notary work helps me maintain sanity in the industry.
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The only think exempt from SE taxes is the state mandated fee for notarial acts. So, Florida allows $10/notarization so that $10 is exempt from SE tax…all other fees charged are subject to SE tax (printing, travel time, table time, and any other fees you charge when doing, for example, loan signings). If you charge $150 for a loan signing and there are 8 notarizations, let’s say $10 per notarization, then only $80 is exempt;, the rest is subject to SE tax less credits
IRS Publication 505 comes to mind
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Yep ! Sad, but true. 
Here is a very detailed & informative direct link on Notary Cafe, which provides specifics from an IRS Registered Tax Return Preparer and Certified Bookkeeper [her website => https://www.firstfruitsolutions.com/]:
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Hello everyone-
I’m in the early stages of earning my commission and therefore unqualified to offer specific feedback on the visceral aspects of this “rant”. I am compelled, however, to comment because of all the negativity [real or implied] being served here. Additionally, I think my “older mentality” serves me well.
@AMcKoy-Harris and @mduffey06 and others: I agree that positivity goes a lot further than negativity, and I think the effort we put in is what we get back (eventually!). I also believe in the importance of identifying and managing realistic expectations with regard to the earning potential here, and like everything else in life, realizing there are highs to accentuate the lows.
I opened this thread, despite the title, expecting to learn something as I prepare to do business, and I did- so thanks to all of you who are able to clarify some of the less desirable aspects of this profession by shedding light on a few of the harsh realities in a positive and informative way.
Although reluctant to respond directly to @taylorgreennotary for fear of tapping your sensitivities, I must say this: If you feel like you’re not getting the level of sympathy and understanding with regard to your growing disdain for this business, insulting your colleagues whose only intentions are to empathize with your frustration, offer useful advice, encourage you and perhaps talk you off of the proverbial cliff- then maybe you should get out of the business and reconsider posting your feelings on a public forum where you run the risk of being misunderstood.
That said: I remain encouraged and look forward to facing and conquering the many challenges I’ve been learning about~and get by with a little help from my friends (you folks with the ‘old mentality’ will understand the reference!) -
Cheers!!
JB in Cali!
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LOL at calling my clap backs sensitivities. Again this posted in notary experiences and not looking for unsolicited advice. Every bit of learning is appreciated though, but I never appreciate assumptions/accusations. When 1)we are not colleagues, we all are individual business owners. 2)We are all in different states and experience different markets. 3) When you know little about the person you are talking too. Literally started this thread to complain about the slow down and reduced fees offers I’ve been getting. If that is your experiences cool share. If it is not, that is amazing and you can share that too. Everything else is mega outta pocket, off topic. Period.
Honestly if I was met with questions instead of assumptions my position wouldn’t come off as defensive.
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@taylorgreennotary I’m really sorry that it’s been a rough experience. You’re right, business is different in different states and cities but I would have to somewhat agree with JB. I’m not saying that your feelings are not valid, they are! But I do believe that changing perspective to a positive note can make a world of difference. You are 100% when it comes to these signing companies, but look at it from their end. They are the ones who cultivated and established the relationship with the title companies, they’re the ones who did the work so of course they are going to get a cut and unfortunately that is not going to change.
When I first started I knew that these signing companies were not going to pay me what I felt I’m worth but I also knew I was green and the goal was to work direct, so yea I took the $30 loan modifications, and the $75 closings because what was important to me was the experience. As I became more experienced my prices got higher to the point where now 85% of my income is direct and when I counter on a signing service they give it to me most of the time.
You have to find out what makes you different out of the sea of notaries. If you can specialize in something like reverse mortgages or have a niche, I promise you that will do wonders. Plz don’t assume my tone I’m not attacking anyone and I know we don’t know each other from a hole in a wall. I’m saying this because I truly believe you can be successful. You just have to find what works best for you in this industry because being negative won’t get anyone anywhere.
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Good stuff Missyb_notary. You have blessed someone with the statement you made. We are just all hout here trying to pay a bill, eat and keep a roof over our heads.
Sincerely
DC Notary
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Newbies are HUNGRY and have No knowledge…
Believing the idea of these said trainers, " I can show you how to make $75 -$200 with your stamp!"…Really…
This take skills and having knowledge of what you are presenting before a consumer…
With us Seasoned SA…We have put in the sweat and tears to get to where we Are…
This is reasons for these low fee…especially going thru a Signing Service…
I do what I can to continue to take care of my family…
As I will NOT take a File In Central Texas for less than $100…that’s with 10 mile radius…and I’m in Central
Period…
We need to stick together and Take a Stance on these low ball fees being issued…
Jacqui in Central Tx
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N L M Notary Lives Matters!
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I just started recently and many of the jobs I’ve taken have been insultingly low. I have gained invaluable experience and take pride in my work but I really don’t see how the prices keep staying so low for such long jobs. I’ve had refi’s where I’m going 65 - 70 miles one way and they want scans for $110. As a newbie I really didn’t think about it until after I did it. I do enjoy this work so I hope the industry eventually balances itself.
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LOL… I take the $80-$100 signings all day long. If you think $100 is too low for 30 minutes to an hours worth of work, I agree get out and find another “hustle” lol. In 6 months my revenue is almost $26,000, my profit is almost $20,000. That’s at 10-15 signings per week, yes that includes fuel and all expenses. I love this industry, I’ve never had a problem with being paid from the hundreds of signing services I work with and They all have been easy to work with.
Remember people, there’s 2 sides to every story and it’s usually the other side you haven’t heard that’s correct lol. I do hope you find a “hustle” you enjoy sir. Good Luck.
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LOL… Ummmmm sir… you’re just starting out and you want top pay??? Wow, that’s hilarious. Sir you have to realize this is not a “get rich quick” industry. Many new notaries are buying into the few who are selling this as “quit your job and make 5 figures a month”. It takes time and we all have paid our dues, so to speak, when we just started out. It takes time.
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That’s too low when you get like 15 signings in a month at most?? I guess I didn’t mention that part.
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I’m not looking to get rich, I just want to do good work and be able to live, it’s that simple. Lol
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I feel you dude. It is frustrating I just aim at paying my bills and living. I try to get anywhere between 2.5k-5k a month but lower offers equals lower profit.
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You’ve only been at this for a year. This tells me you jumped in as the industry started to decline. Once you cross the 500 signings mark you’ll find that many of our comments are accurate. Job flexibility is no reason to take low ball assignments to gain experience. Most signings take more than an hour to complete if you take into consideration the total time to process, print, travel (round trip) post process (proof read), and ship. Certainly the time in front of the client may be an hour, but ignoring the tertiary activities that surround the signing you’re putting in more than one hour. This vital consideration is something many newbies fail to take into consideration.
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