I understand to get the retirement benefits you need at least 4 credits per year. I don’t really get how the self employed reach these credits. I know there is the self employment tax, but how much the tax should be to cover 4 credits? It’s the tax itself or the income. Somebody can tell where I can look, the form and the line number? I’m really concern because I did not pay attention in the past couple of years since I am self employed.
You pay into Social Security and Medicare through the Self Employment Tax that is payable on the self employment net income. See Form 1040 SE and trhe instructions. I think the minimum for four quarters of credit is $2500, but this is a Social Security question. Call them or visit their web site.
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