8$ for a paper pack of 500, 120 miles in a spread out area getting 30 a gallon 12-15$ in gas. 10-15 in toner 75-38= 37. Tax after right off 20% so 29. Some people knock off 10% for asset depreciation of your vehicle net 26 more or less. Not ideal but still a margin
There’s profit just not ideal
I would take it if I had nothing else
When you file your taxes - Revenue $70, deduction of $80.20 for mileage, $8 paper, say $10 for toner, depreciation of printer, and miscellaneous and you have a tax loss of ($28.20).
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It is absolutely not wrong if you refuse the job for $70. You have an hour’s drive there and hours drive back. It is an entire ream of paper. It is your ink it’s the wear and tear on your machines and the wear and tear on your car and gas in your car. You wouldn’t even make any money. $70 is a ridiculous price. For someone who’s going to leave the house for 3 hours and use all that paper gas and wear and tear. You have to watch for your expenses. Don’t sell yourself short and cut your throat.
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Not tax purposes actual cash in handhand. Mileage deduction was included in as gas for cash in hand purposes which is profit
Yes it’s because the market is pushing our fees down your choice to take it or not, I generally take them as long as there some profit even if minimal. That’s a person by person thing tho
you have to pay for your car, you have to pay for car insurance, your tires wear out. you have to pay for toner, you have to pay for your printer, you have to pay for licenses and D&O insurance, etc. You are not considering overhead and other costs when you are calculating your profit. What you are calculating maybe is margin before all other costs, but it is not profit.
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See above as I do calculate car costs in there as well. Same with printer and toner.
For nna E&O and license costs those I consider only a month after until I pay myself back from it.
For insurance auto we would be paying a significant portion of that anyways if we were W-2 same with tires
Finally some backup thank you!
Good for you! After 21yrs and 3 different States I refuse to be cut so low. Shame on the services that do this. Anything over 150 is excessive and should have a higher fee(purchase/refi). Some of the schedulers do not know the page count, but some do and try to slip it by. Check the NNA fee guidelines. It used to be that they asked us not to accept Refi/purchase for less than $80-85. That job was minimum $175-200.
When the market slows you will see Title/Signing Services low ball the fees. I was told yesterday by a local Title company that if they go through a service for a Notary/Signing Agent they are charged up to $175.
Stand your ground. Unless you are new and trying to get jobs under your belt, do not accept low fees.
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But would you really be making any profit with the OP’s scenario? Cost of paper, toner, two hours in the car, an hour at the table, wear and tear on your vehicle, and taxes will eat most if not all of your profit.
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So, $26 profit for how much of your time (including the hour drive each way)? Or does your time not count in this scenario? Your labor is also free?
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Assuming it is 50 miles one way, the federal reimbursement rate is $67 for round trip travel, you do have to go back home or to the office. Printing cost at $.03 would be $12.72 - you are already -$9.72. Do you need to scan and then make a seperate trip to drop the package? Is the drop location on the route if you don’t need to scan or wait for approval? For what it’s worth, I think you made the right call. My breakout doesn’t inlcude the time prinitng, prepping, driving, presenting the package. By the time you add in taxes you would definitely be operating at a loss.
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Even if you are operating at a loss?
Spot on about the no loyality anymore. Sad, 20 years ago this would have been a $150-$200 order.
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Hahahaha. Really?? It’s notaries like you that puts us out of business.
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Absolutely not! You are a business not a charity! You would definitely lose twice money they are offering you on that assignment just in time and gas alone. Also, IF there are ANY errors on the doc that need to be fixed, that’s on you…time, distance, and all!
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. . . . .
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NO, is not. That fee is too low!
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Where’s that ‘sarcasm font’ when we need it? I did take it as well-deserved sarcasm.
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