Question

Social Security/Medicare and Self-Employment

Forum|Forum|4 years ago
October 27, 2021
2 replies
0 views

Upon retirement age, is Social Security available for those who have solely self-employed?

What about Medicare?

If not, how many years of contributions through a W-2 job are required to qualify for these benefits?

Or, what else can I do to provide for these future costs?

If you are self-employed you are required to pay self-employment tax for Social Security and Medicare, as well as ordinary income tax.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

VolvoGirl

Yes if you have been reporting a Net Profit on Schedule C each year. You can go to Social Security website and look up your account. And you should be getting a SSA statement each year showing your record.

SSA article on how to figure earnings if you are self employed

https://www.ssa.gov/pubs/EN-05-10022.pdf

X

xmasbaby0

If you have not yet done so--- create an account with Social Security to see your records.

https://www.ssa.gov/myaccount/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

X

xmasbaby0

And read this

https://www.ssa.gov/pubs/EN-05-10072.pdf

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**