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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35406
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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I am an idependent contractor profit EF gh school exchange

Customer Question

I am an idependent contractor for non profit EF high school exchange year. I dont make much at it as i net maybe $500 a year. Do i need to teport that to ss. I am 70 years old and do collect ss. How do i teport this income to them if i have to.
Submitted: 10 months ago.
Category: Social Security
Expert:  LawTalk replied 10 months ago.

Good afternoon,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.

While there is nothing that you must report to social security, you do need to report your income to the IRS by filing a return and you will have to pay 15.3% self-employment taxes on your income, even though you may not have to pay other income taxes.

However, you do not have to report anything to social security directly.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best in 2016,

Doug

Customer: replied 10 months ago.
I use turbo tax and file form c. I have not seen the 15% in the form c. Is that 15% on net income repirted
Expert:  LawTalk replied 10 months ago.

Hi,

In addition to schedule C, you must also file Schedule SE. Here is a link to the form, but if you report to TurboTax that you are self employed, they should generate the form automatically. https://www.irs.gov/pub/irs-pdf/f1040sse.pdf

The 15.3% is on your net profit from your business.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best in 2016,

Doug