Creative ways to increase U.S. SS retirement benefit amount

[2fishin2]

The OP should have been paying the Self-Employment tax (payroll tax) on his earnings from self-employment for the entire time that he has been self-employed. So, he needs to file amended returns now for the period of his delinquency plus interest and penalties. SS is not voluntary.

Go back and read what the OP wrote....

I know how to read, thank you. Every point I made is correct whether the OP has been self-employed for all of the last 20 years since he worked in the US or whether he just set up shop, which I doubt is the case.

Maybe you can read but your comprehension leaves a lot to be desired. His question was IF he set up a current self-employment business not that he has a current business.

As a US citizen living in Thailand you cannot do what he is asking.

[CaptHaddock]

The OP should have been paying the Self-Employment tax (payroll tax) on his earnings from self-employment for the entire time that he has been self-employed. So, he needs to file amended returns now for the period of his delinquency plus interest and penalties. SS is not voluntary.

Go back and read what the OP wrote....

I know how to read, thank you. Every point I made is correct whether the OP has been self-employed for all of the last 20 years since he worked in the US or whether he just set up shop, which I doubt is the case.

Maybe you can read but your comprehension leaves a lot to be desired. His question was IF he set up a current self-employment business not that he has a current business.

As a US citizen living in Thailand you cannot do what he is asking.

I can not only read, but I can read between the lines as well from which I conclude that he has already started his business as he has indeed confirmed.

As a US citizen living in Thailand, if his ownership structure amounts to self-employment he MUST pay US Self-Employment (payroll) tax, including both the employer and employee percentages, which payments will be included in determining his future SS benefits.

[Guitar God]

My being in Thailand is viewed by my tax home country in Europe as holidays or extended business travel even if I were here 51 weeks a year .Thailand isn't part of the tax equation.

There's no test for physical present that exempts me like in the U.S. If I have a residence permit, am registered there and own a business there, they're the country who gets my income tax dollars. Their reciprocal agreement with the U.S. Is what applies to me.

[2fishin2]

The OP should have been paying the Self-Employment tax (payroll tax) on his earnings from self-employment for the entire time that he has been self-employed. So, he needs to file amended returns now for the period of his delinquency plus interest and penalties. SS is not voluntary.

Go back and read what the OP wrote....

I know how to read, thank you. Every point I made is correct whether the OP has been self-employed for all of the last 20 years since he worked in the US or whether he just set up shop, which I doubt is the case.

Maybe you can read but your comprehension leaves a lot to be desired. His question was IF he set up a current self-employment business not that he has a current business.

As a US citizen living in Thailand you cannot do what he is asking.

I can not only read, but I can read between the lines as well from which I conclude that he has already started his business as he has indeed confirmed.

As a US citizen living in Thailand, if his ownership structure amounts to self-employment he MUST pay US Self-Employment (payroll) tax, including both the employer and employee percentages, which payments will be included in determining his future SS benefits.

Depends on if it is in Thailand or US. If its a Thai based country he cannot.

[CaptHaddock]

As a US citizen living in Thailand, if his ownership structure amounts to self-employment he MUST pay US Self-Employment (payroll) tax, including both the employer and employee percentages, which payments will be included in determining his future SS benefits.

Depends on if it is in Thailand or US. If its a Thai based country he cannot.

Dream on.

Here's advice from one of dozens of websites that pop up in a google search for advice for self-employed expats:

Self-Employment Tax

Another important aspect to be aware of when it comes to Federal taxes is the U.S Self-Employment Tax. If you’re an employee of a foreign company (which could, in fact, be your own foreign corporation) and have payroll taxes from that country taken out of your pay, you don’t have to also pay social security taxes to the U.S. If you are self-employed, however, acting as an independent contractor, then you must file a Schedule C with your U.S. Tax return and pay the appropriate U.S. payroll taxes on your net earnings. The self-employment tax rate is 15.3% and the foreign income exclusion mentioned before does not reduce this liability.

http://www.expatinfodesk.com/expat-guide/nationality-specific-information/americans/us-tax-liability/

So, no, it doesn't matter if the company is in the US or Thailand, if the taxpayer is deemed to be self-employed. We don't know if Guitar God's ownership structure meets the definition of self-employment or not.