turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

maimartin
New Member

What benefit do I receive for paying self employment tax after starting to draw down on social security?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ToddL
New Member

What benefit do I receive for paying self employment tax after starting to draw down on social security?

Your social security benefit may increase if you keep working (depends on your previous and future earnings record) but, in  any case,  employment taxes are mandatory for any earned income. 

You have to pay self-employment taxes on self-employment income even if you have already have sufficient credits to qualified for (or are even already receiving) Social Security benefits.

https://faq.ssa.gov/link/portal/34011/34019/article/3739/what-happens-if-i-work-and-get-social-secur...

View solution in original post

1 Reply
ToddL
New Member

What benefit do I receive for paying self employment tax after starting to draw down on social security?

Your social security benefit may increase if you keep working (depends on your previous and future earnings record) but, in  any case,  employment taxes are mandatory for any earned income. 

You have to pay self-employment taxes on self-employment income even if you have already have sufficient credits to qualified for (or are even already receiving) Social Security benefits.

https://faq.ssa.gov/link/portal/34011/34019/article/3739/what-happens-if-i-work-and-get-social-secur...

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies