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working class, 62years-old wants full retirement in California?

I need 40points to get Full Retirement in California

I have 30something so far, I was layoff so can't fulfill the points, it's hard to get the new job for me.

now I have done some cash jobs in 2012, like babysitting etc. and still doing it though.

Can I pay some tax on it so that I can reach 40points in the future?

How can I do that?

4 Answers

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  • Bobbie
    Lv 7
    8 years ago
    Favorite Answer

    IT IS NOT CAN I BUT self employed independent contractor with your own BUSINESS operation making taxable income NET PROFIT is what would be needed for this purpose and time in your life.

    Use your good daily written receipt books and records in order to correctly complete your 1040 income tax return during the 2013 tax filing season.

    Self employed independent contractor schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose.

    SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount.

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  • Anonymous
    8 years ago

    You mean social security benefits?

    You are 62, you presumably started working at 22, which is 40 years ago. Your "30 something" credits is less than 10 years of covered work history. What happened to the other 30 years? (If you are from another country, check to see if you qualify for a retirement pension from that country.)

    Even if you manange to work just enough to add 4 credits a year (which needs $5000 or so of income), it will take you a few years to get to 40 credits. Then if you retire, the benefit is based on if you actually worked 35 years, so the amount you will get will be minimal. This is because the SSA will count the other 25 years as $0. If you retire before you are 66, you will also get less than if wait until you are full retirement age because the checks will be permanently smaller.

    As for "can I pay some tax on it." It's not can, it's must. If you had $400 or more of self-employment income, you are required to file. However, filing with cash jobs such as babysitting generally is more difficult than with a W-2. This is because the government doesn't always believe you that you worked and made what you said you did. What proof do you have that you actually worked?

  • Judy
    Lv 7
    8 years ago

    If the cash jobs totaled $400 a year or more, you not only can but are required to file a federal tax return. It's "self employment" income. You'll pay self-employment tax on it, which is for social security and medicare, and gives you ss points.

  • tro
    Lv 7
    8 years ago

    if you are unable to get work as an employee where your income does apply to the SS system, your self employment is equally eligible, you pay into the system on sch SE and if you work self employed for the remainder points you need you should qualify

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