u/Acceptable-Salad5984

▲ 5 r/tax

NY CPAs: Sales/Income Tax for Mobile Notary Business

Hi! So I recently started a mobile notary business. I travel to people’s homes, businesses, nursing homes, etc. and notarize their documents.

My question is: should I be charging sales tax, and how does income tax work?

I see a lot of conflicting information online as I assume it varies state by state. So far, I have not been charging sales tax. However, I have been saving 30% of my net income (sales - milage expenses) for taxes. Although, I have been seeing online that apparently you do not have to pay income tax on notary income. Is that true? If so, would I still have to pay taxes on the travel fees?

EDIT: Solved! Thanks for your help everyone!!

reddit.com
u/Acceptable-Salad5984 — 2 days ago

Should I sell my Disney stock

Hi! So for context, my grandparents bought me one (1) stock in Disney when I was born in April 2007. I am now 19 and just got into personal finance/investing about a year ago, and I want to see what I can do with the stock.

I currently invest only $20 a month since I am in college and don't make a lot of money, but I do plan on investing more as my income grows. I use Schwab and I have it set up so it's automatic with 80% going into the Schwab total stock market index fund (SWTSX) and 20% going into the Schwab international index fund (SWISX). Please feel free to give your criticisms on this setup as I am always open to improvement.

I'm just not sure if I should keep the stock or sell it and put the money it into the mutual funds I listed above. I can't really see Disney's stock doing better than the rest of the stock market, but to be honest, I know nothing about trading individual stocks.

The stock is also still on a paper stock certificate. I've read online that I can go to a Schwab branch or mail it to have it transferred to my account. Does anyone have experience with this?

Thanks in advance!

reddit.com
u/Acceptable-Salad5984 — 2 days ago

i'm not sure if this is the same everywhere, but where i am from, each town's fire department has a big air raid siren. it goes back to when fire departments didn't have pagers and they needed to let volunteer firefighters know that there is a fire.

to this day, they still sound the department's siren whenever there is a fire. most, if not all, departments in my area also sound their siren every day at 12 noon.

it is very common for small and rural towns to use volunteers for their fire departments. however, i was born and raised in a suburban town on long island, which is about an hour outside of nyc, so i find it kind of weird we still use the same system.

is anyone else's town like this?

reddit.com
u/Acceptable-Salad5984 — 16 days ago