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Deductions & credits
Unfortunately, your Social Security benefits won't go up because of the extra contributions you are making by working. However, it won't stop because you keep working.
Social Security is non-taxable, depending on what other income you have. For a single taxpayer, once your other income exceeds 25K, your Social Security will start to become taxable.
Click this link for more info on Social Security and Taxes.
If you are reporting your 1099-NEC as Self Employment Income, be sure to claim your expenses for this work.
Click this link for more info on Reporting Business Income and Expenses.
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‎February 11, 2022
6:53 PM
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