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making a living ranching
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<blockquote data-quote="1982vett" data-source="post: 886589" data-attributes="member: 7795"><p>You don't "quit" paying social security.......<strong>*instead of paying half of it as an employee.......because you are now self-employed you pay all of it...</strong>....just like you get to pay all of your health insurance (unless you are on someone else's policy)...but as far as social security payments really go.....you do only pay on taxable income....whatever that might end up being. For me it's been 18 years since I've had to pay social security on farm/ranch income.....</p><p></p><p><strong>*Now that statement is thrown in for those who think an employer pays half of your social security......</strong> it is wages you earned but didn't get to keep no matter where the money came from.</p></blockquote><p></p>
[QUOTE="1982vett, post: 886589, member: 7795"] You don't "quit" paying social security.......[b]*instead of paying half of it as an employee.......because you are now self-employed you pay all of it...[/b]....just like you get to pay all of your health insurance (unless you are on someone else's policy)...but as far as social security payments really go.....you do only pay on taxable income....whatever that might end up being. For me it's been 18 years since I've had to pay social security on farm/ranch income..... [b]*Now that statement is thrown in for those who think an employer pays half of your social security......[/b] it is wages you earned but didn't get to keep no matter where the money came from. [/QUOTE]
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