Where is the best place to live in the Albany, NY area? I've heard that Latham and Clifton Park are pretty nice, but Schenectady and Troy should be avoided.
When it comes to filing your taxes, Notaries must report Notary fees as ordinary income. What your instructor was likely referring to is the fact that Notary fees are not subject to Self-Employment Tax usually declared on IRS Form SE. You can find more information on this topic in Chapter 12 of theIRS Publication 17 (listed as âNotary Publicâ beneath the âOther Incomeâ category.)
A standard deduction is amount the IRS lets you subtract from your taxable income, based on your filing status. Look at page 2 of the 1040 income tax form for the current year. Standard deductions for each filing status are listed in the upper left margin, near line 43.ubtract your federal withholding from the tax shown for your income on the tax tables. If you have a positive result, this is an estimate of the amount you will owe. If you have a negative result, this is an estimate of the amount youâll receive as a federal refund.