Social Security for independent contractor
I’m working as a contracted employee and paying in my portion to Social Security. My employer doesn’t pay their portion because I’m contracted. Do I need to pay their portion in order to be credited for working in a in a fiscal year according to source of security I noticed this because my employer quit contributing Last year and only half my pay showed up on Social Security site. Please reply.
Terry Says
Oh yes, if you are an independent contractor you must pay in through Self-Employment tax. And you should do it through quarterly estimates!
Read this article from the SS website.
You should understand that your now “non-employer” just gave you a pay cut, since you will pay both sides!!
You might want to ask for a raise to cover this cost, since he got a windfall by declaring you an independent contractor.
AND, there are rules about that — so he might be vulnerable to an IRS audit!
