How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Megan C Your Own Question

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 12441
Experience:  Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
Type Your Social Security Question Here...
Megan C is online now
A new question is answered every 9 seconds

My issue is very specific and I need to know if you can assist

Resolved Question:

My issue is very specific and I need to know if you can assist me. It's not just a matter of filing as an expatriate. It's a little more complicated than that. I have formerly filed as an expatriate and claimed my foreign earned exclusion, so that I had no taxes to pay.

My specific concern is my Social Security. It seems that when I was formerly in U.S Territory (Puerto Rico) and regularly filed my taxes, something happened which resulted in my missing my entire 1977 year as employed. 1977 just seems to be entirely missing from my record. As a result, I'm five (5) credits short to qualify for retirement. The company for which I worked in 1977 has folded and the chief executives who could have verified my employment are deceased (General Manager, CFO).

A friend who is self employed, suggested that I file as self employed, while living abroad, paying my SSA taxes, and thus accumulating retirement credits. I'm hoping that I can start with my 2013 return, which is representative of four (4) credits.

Last year, on or about July, I had to close my company (Nutech Engineering, Inc.) in the Dominican Republic, mainly because my largest and principal client, the Dominican government, failed to honor their debts to our D.R. company. I have, since, maintained myself doing some photography work and other odd jobs. I never kept receipts of expenses, since I was unaware of my retirement credits deficit until July of this year, when I started inquiring as to the process of filing for retirement.

The specific assistance I seek from you is:

1- Helping me find someone who can help with my filing as a self employed individual in order to accumulate the necessary credits I need to retire and
2- Orientation as to how to proceed.

Thank you.

Kind Regards,

Michael W. Banks
Submitted: 10 months ago.
Category: Social Security
Expert:  Megan C replied 10 months ago.

MyVirtualCPA :

I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.

MyVirtualCPA :

Do you typically have any US tax obligation while you live abroad. That is, are you a US resident or citizen?

MyVirtualCPA :

If you are not a US resident or citizen, then you cannot simply file a tax return in order to gain social security credits

MyVirtualCPA :

If you are already a resident or citizen, then you will simply mark your self employed income on schedule C. Your self employment taxes that you pay on your return are actually social security payments.

MyVirtualCPA :

So, basically if you are not a US resident or citizen you can't file a return to get credits. You would have to move to the US or become a resident (or stay there 183 days in a year).

MyVirtualCPA :

If you are, all you have to do is file schedule C with your self employed income and expenses

MyVirtualCPA :

Do you have any further questions about this?

MyVirtualCPA :

I realize you may have more information. Please provide me with any details that may help me with further assisting you by replying below. Otherwise, please reply and let me know if I have provided you with excellent service

Customer:

I'm a US citizen. I've read about form 1040-SE. However, according to what I've read, my earnings will no longer include the tax credit applicable to form 2555 for foreign earned income. is this correct, or have I misunderstood the IRS? If all I need to do is file schedule C, then with which form do I submit said schedule (1040, 1040-Se or 2555)?

MyVirtualCPA :

Thanks for your follow up. It is true if you claim self employed, you would not be able to include the tax credit on form 2555. You can have one or the other - the ss credits or the credit, but not both. You will submit form 1040 with schedules C and SE to claim the tax

Customer:

Thank you, XXXXX XXXXX much. I'm finally oriented as to this matter.

Customer:

One other question: When and where do I pay my taxes due?

MyVirtualCPA :

I'm glad I could be of assistance. If you would, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today

MyVirtualCPA :

You have to pay your taxes on form 1040 by April 15 - you will send your return and payment, if applicable -to the address listed in the instructions to the 1040

Customer:

Thank you.

Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 12441
Experience: Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
Megan C and other Social Security Specialists are ready to help you
Expert:  Megan C replied 10 months ago.
Thanks, Michael for your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, or social security needs. It was a pleasure working with you today.

In a few days you may receive a short survey. I would appreciate high marks on this survey as it will assist me with my rankings on the site. Thanks again.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • dylatess

    ATTORNEY

    Satisfied Customers:

    3084
    35 plus years of SSD practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    ATTORNEY

    Satisfied Customers:

    3084
    35 plus years of SSD practice
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    3196
    Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Attorney

    Satisfied Customers:

    1138
    I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    292
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    253
    Tax matters relating to Social Security Benefits only
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    187
    Licensed in multiple jurisdictions, experienced business attorney.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    137
    25 years of experience helping people like you.
 
 
 

Related Social Security Questions