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For those paying SE tax on 1099 Misc/NEC income while also collecting SS Retirement payments...
Will they ever collect on this self-employment income tax they are paying into since they are already retired? Does their compensation for SS get adjusted? I have one who has next to no expenses to write-off - a few thousand dollars for software, but no home-office designated space, no mileage expense, really to offset the income. I am thinking she should ask those she has contracted with to see if they could employ her with no benefits. She is only working to support a family member with health issues.
Thanks for your feedback/responses!
‎February 25, 2024
4:36 PM