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Are freelancers entitled to social security benefits??

Well?

by Anonymousreply 1206/13/2013

Do you mean self employed?

Yes, self employed people pay both the employer and the employee FICA, and collect benefits just like people on payroll.

by Anonymousreply 107/22/2012

As long as FICA is either deducted from your paychecks or you have been paying into it on your own, yes.

by Anonymousreply 207/22/2012

It's called "self-employment tax" & you report it on your income tax return in April & pay it then (unless you've been reporting & paying it during the year). And it's both the employee share & the employer share, so it's twice as much as an employee pays.

by Anonymousreply 307/22/2012

Yes -- you pay twice as much as you would if you were employed by a company so damn well better. :00

by Anonymousreply 407/22/2012

Oh yes I will!

by Anonymousreply 507/22/2012

[quote]As long as...you have been paying into it on your own, yes.

That's the catch. A lot of self-employed don't bother filing or paying SS tax, and then are in for big surprise when they expect to collect.

by Anonymousreply 607/23/2012

[quote]That's the catch. A lot of self-employed don't bother filing or paying SS tax, and then are in for big surprise when they expect to collect.

Tax evasion is a criminal offense so I'd say collecting social security is the least of their worries.

by Anonymousreply 707/23/2012

Only the little people pay taxes.

by Anonymousreply 807/23/2012

Self-employed people pay tax on their reported income, and we all try to take legitimate deductions to get that income down.

The SS tax is based on that reduced income so while I pay quarterly...it ain't much, so I wo t get much when I'm 65.

by Anonymousreply 907/23/2012

[quote]Tax evasion is a criminal offense so I'd say collecting social security is the least of their worries.

Technically, you are right, buy in reality, the IRS never goes after a self-employed person for not paying their own SS tax. It's for the person's own benefit (in theory) to pay it, so the IRS doesn't bother. They will, however, go after an employer who doesn't pay it or withhold properly.

by Anonymousreply 1007/24/2012

R10 is correct. Also, you aren't exactly paying twice as much as an employee pays, because you also get to deduct half.

by Anonymousreply 1106/13/2013

You get to deduct half of what you pay in FICA from your income, so it slightly lowers your income tax. But you are still paying close to double because you are paying both employee and employer shares.

by Anonymousreply 1206/13/2013
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