Nearly 500 notaries registered for The Abnormal Notary's (aka Tye Brown) Brunch and Learn event on Sunday, January 24.
I was honored to be a part of it and share the screen with Sue Hope, a fellow notary and also founder of the incredible notary-specific bookkeeping software, Notary Assist, and with Suheily Figueroa, also a notary AND a tax preparer (and, gratefully, a member of our Sign & Thrive Community) with lots of experience with the IRS and tax filings.
If you missed the two-hour live event, I have the replay HERE and at the bottom of this blog article for you.
Grab some grub and a pen and paper because gems were dropped through the whole event!
I LOVE geeking out about notary stuff with notaries that enjoy their business as much as I do.
We kicked off the event with an in-depth presentation by Suheily on the importance of keeping your business funds separate from your personal funds.
She also destroyed some misconceptions many notaries have about keeping records, and what will, and will not, support you in the event of an IRS audit.
Then she also reminded us of the relevance and power of IRS Publication 334, which eliminates the requirement to pay self-employment taxes on our notary fees.
Sue Hope followed up with a full-on demo of the Notary Assist software program, with a screen-share and all, so you can see exactly what to input, where to add it, how to run reports, and then see the significance those reports will have for your tax preparers (like Suheily).
Give yourself the gift of organized bookkeeping NOW. Don't make the same mistake I, and so many of us, have made. I was a co-mingler of funds. I had huge yellow envelopes full of receipts. I had stacks of invoices all over my office.
That was my "system."
And it cost me, big time. Like, literally, cost cash out of my pocket. Be better than me!
We're in January, so this is the perfect time to start a new accounting system that will help track your income and expenses better than we've ever had before.
And, if you are reading this later in the year, don't wait for next January. Start now!
You'll be glad you did.
In my presentation, I was able to make some suggestions for keeping your phone ringin' & dingin' this year, AND maintain healthy relationships with customers, and your fellow notaries at the same time.
Two Things To Keep In Mind
I think we can all agree that 2020 was bizarre. And, despite the pandemic and a shaky economy, home sales and refinances soared, creating an increased demand for our services as mobile notaries and loan signing agents.
This influx built some incredible businesses for many of us. But the pandemic also destroyed some notary's businesses, dreams, and families too (MANY in the general public as well).
I invite you to at least be aware and sensitive to those situations as you interact with notaries all over the country in the various forums. There are people having a different experience than you, and a token trait of a leader of self & business is to be able to see from others' perspectives, and "walk a mile in their shoes."
On that same line of thinking, the best way to recognize and honor this opportunity you have before you is to not squander it.
Do everything in your power to create a business that will last beyond this one particular boom.
6 Ways to Optimize the Refi & Purchase Boom
One of the biggest errors we can make in this business is to believe that the phones will always be ringing and dinging without any effort on our part, except to sign up with a few companies.
Business is good right now, and yes, it can be that easy to make $8,000-$10,000 a month.
But, like many industries, ours is cyclical.
Our satisfaction, joy, and longevity in this business is directly related to how we can mitigate the risk and reliance on the interest rates for mortgages.
Here are some things you can start doing today while you're busy, and meeting new people every single day:
This Work Matters
Your work as a mobile notary and loan signing agent matters. Take it seriously. Get trained. Take care of your customers. Truly OWN your business, OWN your dreams, and OWN your future. Take responsibility too-do the things you don't want to do, like bookkeeping and taxes. And, please, help each other out. There is no success without it.
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