More Enlightenment on Social Security for the Home Business Owner
February 1, 2008 by Mary Emma Allen
I discussed Social Security here earlier in the month, Social Security & the Home Business Owner – What Should We Do?, and at Social Security Follow-up.
Bob Turek, my partner in this partnering at the b5 Business Channel discussed Counting on Social Security? Your Next Project Better Be Your Retirement Plan.
Now, to add more information to the Social Security issue and why we’re in the situation it is…the possibility of it running out in the next few years, Ren Garcia, at Accounting Solver discusses, Accounting for the Capacity of Social Security to Meet Payments. Perhaps we should say, the “incapacity” to meet payments.
Ren mentions three of the main reasons why this is happening:
- People are living longer
- Fewer children being born
- Lower earning from Social Security’s investments
Then he introduces one solution he also mentioned in the comments of my post…that of families helping older families.
- Do you have any comments, suggestions or solutions to the Social Security dilemma?
(c) 2008 Mary Emma Allen
I am a 62 yr. old widow who has been denied widow benefits because I operate a small home business and am considered by SSA to be in a position to “manipulate funds”. I do take a small salary under $12,000 and have tax receipts to document this and all business expenses. I am in business only for the medical benefits I provide my employees – myself included. SSA refuses to accept my stated income and says I actually make $30,000+. IRS has never questioned the accuracy of my returns. What do I do ? After appealing, SSA ignores me.