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dbillman
Florida
29 Posts |
Posted - 04/18/2008 : 07:44:19 AM
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I found the notary info on page "90" of the second link.
quote: Originally posted by pj.miller
[quote]Originally posted by joanbergst
am not a tax accountant, but I know a few things about deductions and self employment taxes. ... Many tax preparers don't know that a Notary Public is exempt from Self Employment Taxes (i.e.Social Security Taxes) for the ACK & Jurats we notarize. In CA this is a significant amount of money and could very worth while keeping track of it at $10 per.
Here is the tax code that you can show your accountant which shows the tax info for notaries.
www.irs.gov/pub/IRS-pdf/p17.pdf
scroll to page 88 in the publication and look for notary.
** When the above link didn't work, I found the current link: http://www.irs.gov/pub/irs-pdf/p17.pdf
PJ Wilson, WI
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Edited by - dbillman on 04/18/2008 07:46:02 AM |
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n/a
Washington
3 Posts |
Posted - 04/18/2008 : 07:30:20 AM
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I am a notary and a tax accountant. I have clients all over the US. I give a 10% discount to new clients that are notaries. Make sure your taxes are done right the first time. Visit my website www.jandmtaxes.com or give me a call 509-773-5557.
Janine |
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n/a
Wisconsin
2 Posts |
Posted - 04/18/2008 : 07:24:50 AM
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[quote]Originally posted by joanbergst
am not a tax accountant, but I know a few things about deductions and self employment taxes. ... Many tax preparers don't know that a Notary Public is exempt from Self Employment Taxes (i.e.Social Security Taxes) for the ACK & Jurats we notarize. In CA this is a significant amount of money and could very worth while keeping track of it at $10 per.
Here is the tax code that you can show your accountant which shows the tax info for notaries.
www.irs.gov/pub/IRS-pdf/p17.pdf
scroll to page 88 in the publication and look for notary.
** When the above link didn't work, I found the current link: http://www.irs.gov/pub/irs-pdf/p17.pdf
PJ Wilson, WI |
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Donna405
South Carolina
7 Posts |
Posted - 04/09/2008 : 8:44:26 PM
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I set up a S Corp. for all of my "self-employment" income, from which I take a salary. I would much rather pay the self-employment taxes, to increase my benefits when I turn retirement age (in 1-1/2 years).
Donna
Best wishes,
Donna |
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joanbergst
California
360 Posts |
Posted - 04/07/2008 : 12:40:28 AM
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am not a tax accountant, but I know a few things about deductions and self employment taxes. Keep good accounting of all your business tax deductions on a month by month basis and it could make it easier for you over the year end.
Many tax preparers don't know that a Notary Public is exempt from Self Employment Taxes (i.e.Social Security Taxes) for the ACK & Jurats we notarize. In CA this is a significant amount of money and could very worth while keeping track of it at $10 per.
Here is the tax code that you can show your accountant which shows the tax info for notaries.
www.irs.gov/pub/IRS-pdf/p17.pdf
scroll to page 88 in the publication and look for notary.
http://www.joanbergstromnotarypublic.com
Joan Bergstrom 24/7 To Riverside & San Bernardino Counties. State Notary exam teacher for www.notaryclasses.com www.joanbergstromnotarypublic.com joan.bergstrom@yahoo.com Cell: 951-522-4919
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