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USA Self-Employment Tax and Social Security

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23 hours ago, ricklev said:

I think you are thinking of Medicare Part B. 

your right I worded it poorly. Part b is deducted automatically.. Part A has an initial required payment before any service is provide. Part A I believe its $1600 for initial visit and you have to already have signed up for part B to get part A coverage. There's also qualifiers for coverage and if you dont then there is a charge for coverage so its hardly free. 

  • 1 month later...
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  • gamb00ler
    gamb00ler

    It's definitely a smart move on your part.  The lowest tier of SSA retirement benefit gives a great inflation protected return on the employment tax you pay to receive it.   Sorry I can't he

  • gamb00ler
    gamb00ler

    A heads up for the OP.  If you were ever married for 10+ years and your spouse or ex-spouse has also qualified for SSA retirement benefits you can collect on her work record.  The caveat is that her b

  • Author

I am happy to report that my self-employment income in Thailand did give me the 3 credits to qualify for Social Security and Medicare.  It took about 2-3 months after the IRS processed my return, I think.   

You have the 40 work credits you need to receive benefits!
 
 
 
 
 
This includes credits not yet reported on your earnings record from last year and this year if you continued to work.

You earned $5,245 in 2023. Is this correct?

 

  • 4 weeks later...
On 8/15/2024 at 7:52 AM, ricklev said:

I am happy to report that my self-employment income in Thailand did give me the 3 credits to qualify for Social Security and Medicare.  It took about 2-3 months after the IRS processed my return, I think.   

You have the 40 work credits you need to receive benefits!
 
 
 
 
 
This includes credits not yet reported on your earnings record from last year and this year if you continued to work.

You earned $5,245 in 2023. Is this correct?

Nice. I hope to receive mine next year. Thanks.

 

  • 3 months later...
  • Author

Success after paying self-employment tax to get 40 quarters.   It took many months but the correspondence with Manilla Federal Benefits Unit was always clear and prompt.  There was a long wait (3 months) for the telephone interview, which is the last step before the application is forwarded to the USA for final approval.    

 

 

Retirement Benefits
We have processed 3 of 3 steps of your application.
We made a decision to approve your application on January 6, 2025.

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