Ask Larry

Earnings Subject To Social Security Taxes

Can A Big Corporation Get Away With Deducting My Taxes But Not Paying Into SS?

Hi Larry - Thanks. I worked 5 years for Houston Based Company overseas. Received W2 from Houston office and paid US Income Taxes. Neither my employer or my self - no body paid into Social Security.
I did not know about benefits. Now I work locally and realized I am not qualified for Social Security benefits because I have only paid into 4 years.
Can a big corporation get away with this, they deducted my taxes, gave me W2 but did not pay into my SS.
Please advise.

Posted: 
Thursday, July 15, 2021 - 10:00

Why Is My Ex-Husband Getting So Much More Than Me Even Though I Helped Out In Our Businesses?

Hi Larry, I was married for 23 years. Now divorced. My husband owned several businesses which I helped. Now I look at my social security statement and he is getting highest amount at every age level. Me? I am getting only small amounts at every age level. Thru this marriage I was a flt Attnd who flew my minimum so I could help out our business. We both have worked always since 18 yes old. Why is my amount so uch less?? We filed jointly for all those years?
Thx u
Heidi

Posted: 
Friday, May 28, 2021 - 14:24

Will The Years That My Church Paid Social Security Taxes On My Behalf Count For My Social Security Benefits?

hi Larry, this might be a tough one. I paid into SS years 1972-1979 and then exempt (minister's exemption) from 1980-2013 and then retired in 2014 and began working a secular job and paying in again in order to get my 40 quarters for medicare, and I have succeeded. However, on my SS account, my earnings record showed my church, unbeknownst to me paid SS taxes in 1994, 95, 99. So my question is 2 fold, a. Will these years of paying that the church made on my behalf count and b. Will I receive any SS based on these years and other years of covered working?

Posted: 
Thursday, May 6, 2021 - 16:53

Should I Pay Myself The Maximum Allowed?

Hi,
I am self-employed. My company is a S Corp. Right now I'm paying myself $90k a year but I take several bonuses during the year which are not included in my paycheck. Should I pay myself the max allowed so my benefits will be increased or will the bonuses which "pass thru" count towards my benefits? I am 59 and would like to retire at 65 even though my FRA is 67.

Posted: 
Sunday, April 25, 2021 - 12:28

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.

Hi,

Posted: 
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?

Hi,

Posted: 
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

Hi,

Posted: 
Sunday, August 9, 2020 - 09:43
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.