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Can a self employer get social security credit?

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Can a self employer get social security credit?

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The self-employment tax covers your Social Security credit. If you turn no profit you pay no self-employment tax and therefore receive no Social Security credit. Find a way to turn a profit, or get a regular job if you want Social Security credit.

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Self employment tax is calculated on what you earn. If you suffered a loss then you owe no self employment tax and therefore there is no social security credit.

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Normally, if there was no profit, then there is no self-employment tax to pay, and there would be no social security credits. However, if the “Optional Methods To Figure Net Earnings” in Part II of the Schedule SE Long Form are used, and the gross was at least $600, then there would be self-employment tax, even there was no net profit. Therefore, there could be social security credits earned.

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