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What are the reporting requirements for self-employed people?

Excerpted from "Social Security Handbook". See the up-to-date, official Social Security Handbook at ssa.gov.

1416. What are the reporting requirements for self-employed people?

If you are self-employed and have net earnings of $400 or more in any taxable year, you must:

  1. Complete Form 1040 (U.S. Individual Income Tax Return) including Schedule C (Farmers use Schedule F instead of Schedule C);

  2. Complete Schedule SE (Computation of Social Security Self-Employment Tax); and

  3. Send the return and schedules to IRS with the balance of any self-employment tax that is due.

Last Revised: March, 2001


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Good Article on Social Security Benefits for Divorced People

This is a good article which outlines Social Security benefits for divorced people. The article refers to "divorced women", but it also applies to divorced men (especially if the woman had higher earnings).

Excerpt :

The law says a divorced woman, who was married to her ex-husband for a minimum of 10 years, is due essentially the same benefits as a woman who is currently married to her husband.

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