social security tax

Discussion in 'Accounting and Taxes' started by florida1979, Oct 15, 2014.

  1. florida1979

    florida1979
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    Hi,
    I hope someone can explain to me how this works.

    I created cleaning company Inc.(living in Florida)last year and few months ago I added my husband(we got married this year) as co-owner. We want to pay next year jointly. He has stable income(maintainance) that he can put on company name and I have so far one small job that makes 500$month. Besides this I have few investments as my income. We want to start pay social security tax , what is the best way to do? How to do this? We are both self employed. I know we will need accouter , but I'm trying figure out how the things works here as we both came from foreign country.

    Thank you
     
  2. MikePeterson

    MikePeterson
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    Hello, If you are having a way or a source of income then you may have to pay taxes on your society security, and those source income additionally are self employment, pension income, IRA/401K etc. for that you have to first determine that what is your combined income will be, then secondly, determines how much of your social security income is subject to taxation etc.
     
  3. Joseph.Shivell

    Joseph.Shivell
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    First, ket me see if I understand you correctly. Both you and your husband are now co-owners of the cleaning company. He has income that he can invest in the cleaning company, and you have so far signed one client that pays $500 per month. You also have investment income. You want to start paying social security tax, and want to change your filing status next year to "Married, filing jointly". Getting an accountant would help here, and you can ask him/her the best way to handle your tax filing status. You can also find information on the official IRS website. For information on how to pay social security tax, you can visit the Social Security Administration website. Your accountant should be able to answer any questions you may have about the information on these sites.
     

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