Posted by CarolF/NC on 2/8/13 11:43am
Msg #454753

Self Employment Tax Question....

Does anyone have a solid answer on how much you can contribute to your SS income per year or over your lifetime? And I may have this wrong, but I was told once you contribute a certain amount in any given year or over your lifetime there is no further benefit. I'm trying to decide to declare all or a portion of my notary signing income from my self employment tax and I sat on hold with Social Security until I no longer could hold the phone

Reply by Yoli/CA on 2/8/13 11:49am
Msg #454757

Found the following link. Hope it helps answer your question!

http://www.socialsecurity.gov/OACT/COLA/cbb.html

Reply by CarolF/NC on 2/8/13 12:43pm
Msg #454776

Yoli Thank You So Much...

I was all over that site and didn't find this and not my financial advisor or CPA could find the answer.

Reply by Yoli/CA on 2/8/13 12:50pm
Msg #454778

You're welcome!

Glad it's what you were looking for.

Reply by CarolF/NC on 2/8/13 1:46pm
Msg #454794

Not so sure that equates to your realized benefit at

retirement.

Reply by desktopfull on 2/8/13 11:56am
Msg #454761

Google is your best friend.

Reply by sueharke on 2/8/13 12:36pm
Msg #454773

I suggest a search of this forum as this has been discussed before, but I don't know the message number. As to the total amount, that will keep changing as politicans open their mouth and misguide this economy. Finally, asking Social Security that question is like asking you dog for a correct answer, the dog would probably get it right.