Allowable self employment expenses while collecting social security (to perform earnings test)

[Critter-3]

A DIY program will never replace the need to talk with humans for certain matters ... a consultation with a paid tax pro and/or  financial planner would be wise from time to time.   I have  this type of conversations  with my clients all the time which makes my fee worth every penny to get year round tax planning advice. 

[Opus 17]

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@SoCal-Guy-in-CA wrote:

TurboTax gives advice on tax matters as you proceed through the online process and you answer questions posed by TurboTax, so yes I was asking for advice in that vein.  .   

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There's a difference between preparing an accurate current-year tax return that minimizes your tax liability, and planning for future tax years. Turbotax isn't designed to do future tax planning**, and I have seen no indication that this is something they will try to engage with.

**Except for trying to sell you a Turbotax-branded IRA if you are eligible.  

[Critter-3]

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@SoCal-Guy-in-CA wrote:

In the past I located a site that mentioned wages to family members was an expense excluded from the SSA earnings test (even though legitimate for calculating taxable income).

I have been trying to locate that site for the last two days because I never bookmarked it. I wouldn't call it a secret formula, but it's not advertised. I recall the article from from an CPA, but I cannot locate it again. 

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I think I know where you got confused ... payments to YOUR children under the age of 18 are not subject to FICA taxes but the wages are subject to fed/state taxes and are deductible on the Sch C if you file the correct payroll tax reports timely.  

Now by using this legal option to reduce the Sch C profit   the earned income for your SS early payment reduction is automatically reduced.