A reader arrived at Small Biz Survival with this search query:
“I want to start a home business, but I’m on Social Security. Can I still be self employed?”
This sounds like a good addition to the Small Biz 100 and tax question for Maesz! Here’s the answer:
If she is not “full retirement age,” too much net self-employment income may trigger some recapture of her Social Security benefits.
If she has reached “full retirement age,” she can earn as much as she wants without any adjustment of her Social Security benefits.
HOWEVER, she is in any instance, responsible for self-employment tax and income tax on her earnings from self-employment.
Thank you, Maesz!
If you have a small business question, leave us a comment.
This article is part of the Small Biz 100, a series of 100 practical hands-on posts for small business people and solo entrepreneurs, whether in a small town, the big city, or in between. If you have questions you’d like us to address in this series, leave a comment or send us an email at firstname.lastname@example.org. This is a community project!
- The secret to effective follow up: What NOT to say - April 15, 2019
- How church buildings can do more for the community - April 8, 2019
- Ideas to fill empty display windows - April 2, 2019
- Know your customers: What do they want to be good at? - March 25, 2019
- 99% of the best things you can do for your town don’t require anyone’s permission - March 4, 2019
- Want more public attendance at your events? Make sure your signs include this specific phrase - February 18, 2019
- Know your customer: Who’s asking them questions? - February 11, 2019
- How restaurants can market each other in small towns - February 4, 2019
- SEO for voice search is different for rural small business - January 28, 2019
- What businesses would work in a small town with empty land - January 21, 2019