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Spring 2012 class discusses compliance-Come Join |
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Written by Linda Kassis
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Sunday, 26 February 2012 20:24 |
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Whether we are taking on new endeavors in becoming a Notary Public or are a seasoned Notary, we need to be aware of the duality of the role we play. On the one hand, we answer to the dictation of the State by which we are appointed and on the other, to the employer for whom the majority perform their notary duties.
Where once a knowledge of the very basic concepts of the role of Notary Public was enough, today, the public we serve demands more. They demand the utmost in knowledge, integrity and discretion. Ignorance is and has never been an adequate excuse for not performing ones duties with the full knowledge of the task and of the laws that dictate a Notary Public's actions.
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Last Updated on Sunday, 11 March 2012 17:22 |
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Complying with the Safeguards Rule |
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Written by Linda Kassis
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Friday, 07 March 2008 14:48 |
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FTC Facts for Businesses
The Gramm-Leach Bliley Act requires companies to ensure the security and confidentiality of consumer information.
Does this include the Notary Signing Agent? Directly or indirectly, yes, it does. Read what the FTC has to say about your obligation as a business and as a third party service provider to protect consumer information.
Safeguards Rule
Also, here is a tutorial: Protecting Personal Information: A Guide for Business
http://ftc.gov/bcp/edu/multimedia/interactive/infosecurity/index.html
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Last Updated on Wednesday, 30 July 2008 09:03 |
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Quickbooks-Creating an Item List |
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Written by Linda Kassis
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Wednesday, 06 February 2008 10:17 |
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Creating an Item List
The item list is the list of items you want to put on an invoice. If you want to track everything as signing agent fee with no separation of notary fee, mileage or print fee then you would only need ‘Signing Agent Fee’. Even if you do not have to separate items out for tax preparation, you may want a little more detail for your own information. This way you can check throughout the year the amount of overnight packages vs. edoc signings, mileage etc.
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Last Updated on Sunday, 27 April 2008 09:33 |
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Written by Linda Kassis
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Wednesday, 06 February 2008 10:03 |
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BUSINESS PLAN
To determine if this business could be profitable for you we have put together the following business plan for your use.
First compile the following information:
What are your annual expenses?
- Tax preparation
- Telephone (x12 months)
- Internet (x 12 months)
- Cell phone (x 12 months)
- Miscellaneous Office Supplies (pens, binder clips, etc)
- Advertising/Memberships
- Insurance/Bond (If per term of commission, divide by term of commission for annual amount)
- Commission Fee (If per term of commission, divide by term of commission for annual amount)
- Stamp/Seal (If per term of commission, divide by term of commission for annual amount)
- Journals per year (If applicable)
Cost of equipment: Equipment is usually expensed out on income tax in the first year. Let’s give some time for recouping the cost of equipment by spreading it out over the term of notary commission.
- Cost of computer (divide by term of commission for annual amount)
- Cost of laser printer (divide by term of commission for annual amount)
- Cost of fax machine (divide by term of commission for annual amount)
TOTAL ANNUAL EXPENSES……………………………$_________________
Next determine the costs per signing.
- Cost of toner
- Yield of toner (the toner box should indicate how many pages can be printed per toner cartridge)(cost of toner divided by yield for a per page figure)
- Average amount of pages printed per signing
Multiply cost per page x # of sheets per signing for cost per signing $_____________
- Cost of Box of letter size paper
- Box of letter size paper has 5,000 sheets (divide cost of box by 5,000 for a per sheet cost.)
- Average amount of letter size pages printed per signing
Multiply cost per page x # of sheets per signing for cost per signing $_____________
- Cost of Box of legal size paper
- Box of legal size has 4,000 sheets (divide cost of box by 4,000 for a per sheet cost.)
- Average amount of legal size pages printed per signing.
Multiply cost per page x # of sheets per signing for cost per signing $_____________
- Average miles traveled for a signing (round trip)
- Current IRS mileage deduction is 48.5 cents per mile. This should cover all expenses incurred in operating a vehicle including gas. Multiply average miles per signing x .485 for total auto costs per signing. $ _______________________
TOTAL COST PER SIGNING……………………… $ __________________
- Average signings completed or expected to complete in a year.__________
- Average time spent on a signing (include printing, actual signing, driving time, fax back time, status reporting time, all time spent from start to finish in hours)______
- Average fee per signing $ ________________
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Last Updated on Wednesday, 06 February 2008 10:28 |
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Written by Linda Kassis
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Wednesday, 06 February 2008 10:01 |
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Many have joined into the profession of being a Notary Loan Signing Agent with little or no experience as a notary or a familiarity with loan documents or the loan process. This coupled with a lack of knowledge of running a business or a certain business savvy may leave them at a major disadvantage.
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Last Updated on Wednesday, 30 March 2011 18:18 |
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