Ask Larry

Earnings Subject To Social Security Taxes

Could We Elect To Pay Social Security Taxes On Our Minor Children's Earnings?

We are starting a small business and will be employing our minor children in the business. I understand that minor children working in their parents business are exempt from paying Social Security tax. My question is could we elect to have them pay Social Security tax? I can see some benefits to them establishing Social Security earnings and credits early on.


Sunday, January 31, 2021 - 16:03

Is It Possible For Me To Work Online For A U.S. Company While Residing In Korea And Pay U.S. Social Security Taxes?

I moved to Korea when I had only paid into Social Security for about 30 quarters. I have lived here for 13 years and don't have any plans to return while I am of working age. I have filed taxes every year and take the foreign earned income exclusion. Is it possible for me to work a part time job online for a US company and pay social security (to get the remaining 10 quarters) while I have Korea as my tax home?


Tuesday, December 8, 2020 - 09:25

Where Can I Get Help With Filing Amended Tax Returns?

I am trying to get SS credits for my husband through our farm Business. We have various business, real estate, rental income and farm income. I am trying to amend 2017, 2018 & 2019 because we do not show a profit, a SE form is not generated. I know I will have to pay SE taxes on those wages off Schedule F. I am not sure if I am doing the forms correctly 1040X and Long Form SE Farm optional method. He only has $6,000 in income that would qualify. WHere can I get help?

Thank you


Sunday, August 9, 2020 - 09:43

How Do I Verify Wages From Over 40 Years Ago?

1. Hi Larry-I am reviewing my yearly SS statement for over 40 years work of work. I can tell that my earnings in some years are not reported and I don't have paycheck stubs for those years. I do notice a pattern however. It seems like whenever I worked for a government agency (City in CA) or a university (two from CA), my wages are not recorded. How do I recover and verify wages from over 40 years ago?

Tuesday, June 30, 2020 - 15:11

If You Subscribe To The Maxifi Program Is There Any Reason To Subscribe To Your Other Software?

1. If a reader subscribes to your program Maxifi, is there any reason that he or she should also subscribe to your other website, maximize my social security?

2. When calculating income for which social security payments are taxed, what is defined as "income"? Is it simply AGI, or is it 'earned income" eg. W-2 and/or self-employed earnings? Could individuals with enough passive income to exceed the limits for taxes to kick in avoid paying income tax on SS by earning less?


Tuesday, April 14, 2020 - 09:47
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