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How is the social security number tied to an ein affected by…

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How is the social security...
How is the social security number tied to an ein affected by the yearly gross income if company broke even for the year? After write offs and 1099 to ou subcontractors the company made no money.... Will the social that is associated with the ein be at all affected?
Submitted: 2 years ago.Category: Tax
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1/26/2016
Tax Professional: Tax.appeal.168, Tax Accountant replied 2 years ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Q: Will the social that is associated with the ein be at all affected?

A: If you are asking will social security credits be affected, the answer is no, not directly. Social security benefits are based on personal lifetime earnings, not the earnings of the business. If you did not pay yourself a salary or take any owner drawers as income, then that affects your social security credits because you will not show earnings for that time period.

Let me know if I can be of further assistance to you regarding this matter.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 2 years ago

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