Thank you , definitely I need new equipment 
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There is this term the IRS likes called âowners drawâ from a business account. They look at it (and process it) the same as if your paying yourself. If you take $300 out of the ATM from your business account and donât use it to pay for a deductible business related expense (like you used it for a down payment on a swimming pool), then they look at it as you paying yourself if you have no receipt to prove otherwise. So whether you âintendâ to pay yourself a wage or not is irrelevant. The IRS determines when you paid yourself when they audit your books when money comes out and there is no paper trail showing where it ended up. So in cases like this, itâs best to just draw the money out and call it what it is and put it in the books that way. This is why I donât âcrunchâ numbers for each individual signing to determine if its âworth itâ or not. I look at the bigger picture and bigger numbers when it all adds up in the end. Now for those operating âunder the radarâ without establishing a business entity, then yes, you will miss out on making money off of your expenses through deductions, hence leaving you chasing âprice pointsâ and analyzing each signing for a profit or not.
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When you are hungry to work I can understand, I have six months in and 12 jobs because my cut off is 70 dollarsâŠunless it is under 40 pages.
I find it very funny that when a job offer is for a future date I dont have the experience or whatever the reason is that I dont get the jobâŠBut when the appointment is an hour late or within 1 or 2 hours, its mighty funny now my pay increases and my experience NO LONGER MATTERSâŠ
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Check staples I just upgraded from my samsung single tray printer. No scanner was useing my phone ha ha .well I just bought a dual tray with scanner cannon imagine class 1620 for $365.00 AND OMG LET ME TELL YOU ⊠I was wasting my time before. I now hit print walk away do chores get ready and its prints both sizes collates it for me. I can do 150 pages in about 6 to 8 mins (if I run out of paper) I also now can scan full packages .I just was amazed how much time I spent on a signing just printing before. Do the investment and upgrade I think you will have better luck .also find your off brand toner on Amazon⊠good luck
Nothing less than $100âŠeven when less than 40 PLEASE. Itâs possible that by accepting the first lowball offer, YOU are marking yourself as a newb. Your last paragraph sorta confirms this suspicion.
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My tax rate is based upon the amount of net revenue I take in. I have never been taxed or not taxed by amounts I have drawn ie. spent on non business expenditures.
You are right, however I fell victim after asking for the base of 125 i saw I would only get that or more if the closing was a hour before time or passed time, i was a realtor for 20 years so I knew stepping in a new territory they would try meâŠit easy to suggest never accept under 100 when your makin thatâŠbut when a person gets 12 jobs out of over 1 hundred offers, there is a breakdownâŠgotta pay the billsâŠ
I didnât say what you do and do not get taxed on. The word âtaxâ wasnât even in my prior post. Thatâs on you and how you file. Iâm saying that if you pull money out of a business account, and donât use it for a DOCUMENTED, LEGITIMATE BUSINESS EXPENSES, then the IRS automatically assumes and treats it as if you paid your self (or took a personal draw). You could look at that amount as wages, profit, revenue, or whatever you want. But if you get audited, and you canât show where you spent that $300 ATM withdrawal, then you took it out for personal reasons, and because it came out of a BUSINESS ACCOUNT, then they assume and process it as if you paid yourself. Now whether you PAY TAXES on that money is a whole different subject and on you, but not what I was addressing. Iâve owned 6 businesses over the last 20 years (currently operate 2) and been audited 3 times in those 20 years. And for those who are afraid to turn this gig into a legitimate business because of audits and taxes, its not hard. Just keep receipts and document everything that goes in and out of the checking account. Being audited is not a bad thing. Most well run business get audited all the time. In my case I have a lot of business related expenses, so I write a lot of stuff off. The IRS tells you (right on there website) this is one of those 6 âflagsâ that triggers an audit. You send them the receipts, they go away. No receipts, then its WAGES then. Make sure you pay your taxes at the end of the year when you file. Not hard or complicated.
Sometimes I feel $125 isnât enough either when you add 9 notaries each (two borrowers) into the equation you speak about! But thatâs the hassle of working with Signing Services. They have to get their cut too! Time to work direct all the time!
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Perfect response to this age-old question! And, although you shouldnât go off one signing to determine how low you will go, experience tells you how much you will accept if it is the only closing offered to you that day or whether you really wanted to leave the house that day, or how much you needed to earn that day! But for newbies, they may have to take all or most closings that come their way so they can figure out what works best for them! My sister used to take every closing that came her way for years. I kept telling her I wouldnât work that hard. But when she showed me she was earning twice I was, I said âgood for youâŠbut I wonât work that hardâ. After years of taking all that came her way (after the heightened year of Covid that kicked all of our butts with the volume!), she has finally started giving up some of those cheaper or far away closings. But, she is one of those people that made well over 6 figures because of all the closings she took!
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Some signing agents can survive with less than $100 per signing, they feel âcomfortableâ, however, NOT me.
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If you used an entire ink cartridge on just 304 pages, then something is wrong. I get ink+ paper cost of $0.136 per page, that is horrendously high. I can print for $0.04 per page (paper+toner+drum), I didnât include the fuser cost. Hopefully you are using a laser printer.
Exactly! I figured this out after a few times.
I find that the all-in-one setups are just slow in general. I now understand why SAs have separate devices for printing and scanning. I had an all-in-one that printed jut fine, but the scanner was leaving what looked like toner on the pages after being scanned. Luckily I was able to wipe most of it off.
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Thank you for sharing . 
125 is my minimum and thatâs if it is directly in my town. 15-30 miles $135 30-45 miles $150 and after that itâs roughly 60cents a mile extra and add 20$ for scan back
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Agreed, Anita, try to purchase a laser RICOH printer double tray, I had one for years, and worked great including a scanner. then, something happens one day with legal tray size jamming paper, so I change it for another one, the same brand a year ago. Very happy. toner lasts about 3,000 to 4,000 printing and I buy the toner online which is much cheaper. ($20, depending how many cartridges you order)
Good luck, but you are right, no low fees accepted. We need to respect our work.
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Good not great equipment will make a tremendous difference in the long run. A good printer and a Stand Alone scanner will make you soo much more efficient. ($600) investment. Slow all-in-one printers kill your productivity, TRUST ive been done that road. Good Equipment, Availability, & Discernment on What assignments you take will have you feeling good about your decision, not to mention your bank account will reflect your good decision making.
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Thank you for sharing . 
LOL way to go good Job. Iâm with you, I take the $85-$100 all day long.
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