Hello KBoy116,
Hope all is going well with you and your wife. Happy to answer your question, normally your net profit from a business is subject to self-employment taxes even when you are receiving social security benefits. In fact, some of the social security you receive may be taxable up to 85% when you have other sources of income (in your case, Etsy business with a profit).
Unfortunately, your age does not currently exempt you from paying self-employment taxes, shocking, right? With the new tax reform and economy, we noticed a lot retired individuals had to go back to work part-time and when they would do their taxes, they were not happy to find out that they had to pay taxes on the social security benefits they were receiving because of their new part-time job.
Hope this helps, please let me know if I have answered your question.
Cheers,
Laura
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