Announcement

Collapse
No announcement yet.

W2 and 1099 Income- Self Employment Tax above Threshold

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • CordMcNally
    replied
    Originally posted by Future Fire View Post
    Similar question. I'm W-2 and above the SS cutoff. My wife is 1099. If filing jointly, does my wife also need to meet the SS cutoff independently?
    Yes.

    Leave a comment:


  • IMinMS
    replied
    Others can correct me but SS cutoff is individual based and would need to be met independently by her rather than collectively.

    Leave a comment:


  • Future Fire
    replied
    Similar question. I'm W-2 and above the SS cutoff. My wife is 1099. If filing jointly, does my wife also need to meet the SS cutoff independently?

    Leave a comment:


  • IMinMS
    replied
    Thanks Johanna!

    Leave a comment:


  • jfoxcpacfp
    replied
    It has been addressed, but would be very difficult to find. No, you would not be subject to additional SS tax, only Medicare.

    Leave a comment:


  • W2 and 1099 Income- Self Employment Tax above Threshold

    I tried to search the forum to see if this had already been addressed but wasn’t able to find it. I have a W-2 job with income above the Social Security cut off of ~$137,000 this year but was considering moonlighting at a 1099 position. Would that additional 1099 income be subject to employER social security payroll tax or since my W-2 employer had already hit the maximum, would that not be subject to such tax? I know that the employEE element would not be subject to social security tax as I have already contributed the maximum at my W-2 position. Thanks!
Working...
X