|
DISCLAIMER - THIS WEBSITE IS NOT ENDORSED BY OR AFFILIATED WITH THE U.S. SOCIAL SECURITY ADMINISTRATION , OR ANY GOVERNMENTAL ENTITY.
 Carol Thomas has recently retired from the Social Security Administration after 28 years service. If you have any questions about Social Security, please ask. We will use the questions you send for future posts. I will never post anyone's name, or other identifiable information.
Due to overwhelming demand there is now a fee of $10 per email.
You will receive a reply within 72 hours of payment being received.
You will also receive Carols phone number, allowing you to speak with her directly.
|
Click to Ask Your Question
|
| FAQ(s) found under Social Security Questions From Visitors |
Showing 372 Of 394 |
Prev | Next |
| working part time if self employeed |
Date Add : 09-24-2009
| Views : 52
| |
|
I can't find any information on how to work part time if you are self employeed. I am a truck driver, not paid by the hour. Is there a monthly net amount I can earn? I own my own truck but am contracted to a transport company. I can only work for them. I receive a 1099 from them then file a form C to deduct my expenses. I would like to semi-retire, but don't know how.
Support Replied ~ 07-28-2009 18:10:30
Dear Donald:
You should call SS and ask them what your average wages were for the last 5 years.
That should tell you what approximate rate you have been working at. You have to stay under $14160 if you are 62-66. SS looks at the Line 4 of your tax schedule SE.
If your wages have been about that amount anyway, then you should have no
problems......Carol
Your Comment ~ 07-29-2009 00:37:36
When I tried to ask about this before, I was told that if you worked over 20 hours per week it was not considered part time. Are you saying that I could take the yearly amount rather than a monthy or hourly rate?
Support Replied ~ 07-29-2009 14:52:39
Dear Donald:
Self employment is very gray. Let me know what your net gain has been for the last 5 years and then I can better advise you......Carol
Your Comment ~ 07-29-2009 19:53:59
I have net about 40,000 per year. However, this year I have had very little work so it will be considerably less. If I draw SS I would only work part time.
Support Replied ~ 07-31-2009 20:06:52
Dear Donald:
If you only work 1/2 time, they will put your estimate at $20000 and you will have to give them a plan on how you are going to stay at the $20000. If you work for several employers, they will want a statement from the employer that they know that you are reducing your work. Remember, SS will put an hourly rate on your work.
So roughtly, if you make $40000 a year, its about $3300 a month or about $20 an hour. So if you use that kind of a guide, you can work about 67 hours a month. Its about what they told you, but in a way that you can understand it. Tell them you are working less hours a week and less hours a day. Or you can tell them to set your
wages at $40000 and wait until the year is over and see what your yearly amount is, but you are retiring mid year, which makes everthing more differcult. Tell SS you are keeping a close record of what you make and when you make it. It is hard to say what they will do because, like I say, it is gray area. I you don't get anywhere with you local office, write back to me and we can try to load it on the computer ourselves......Carol
|
|
|
| Submit Questions / Post Inquiries |  If your question has not been answered, or if you would like to send us an inquiry, please click here |
|
DISCLAIMER -
You should consult with your local Social Security Office before acting upon any information received as a response to your question on "Social Security Advisor".
"Social Security Advisor" is intended to provide accurate and authoritative information with regard to the subject matter covered. It is offered with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, investment or other professional advice or services.
Information obtained from RetirementCommunity.com, including e-mail responses from "Social Security Advisor" should be considered as general educational information. You must never rely upon the advice given here. Your individual situation may not fit the generalizations discussed. Only your local Social Security office can evaluate your individual situation and give you advice.
|
|
|
Donation Center
|
Due to overwhelming demand there is now a fee of $10 per email.
You will receive a reply within 72 hours of payment being received.
You will also receive Carols phone number, allowing you to speak with her directly.
User Feedback:
|
|
