Madison County Democrat. (London, Ohio) 19??-1958, 1951-01-05
Sef-Employment Counts For
Social Security Benefits
Do you work for yourself

Do you work for yourself or
own your own trade or business?
If so. your earnings may insure
monthly payments for you and
your family when you retire and
monthly payments to your fam
lily when you die.
This is made possible by 1850
amendments to the Social Security
Act.
Under the new Social Security
law your net income from self
employment after January /, 1851,
counts toward Social Security
benefits if it is $4O0 or more a
year.
Some of the various trades and
businesses in which your earnings
will count toward old age and
survivors insurance payments in
clude: store, beauty parlor, fill
ing station. barber shop, bar,
jewelry shop, laundry, pharmacy,
theatre, hotel. flower shop, taxi,
tailor shop, tourist court, printing
shop, photo studio, advertising
agency. secondhand shop, shoe
shine stand manufacturing plant.
real estate agency.
Also earnings count if you are
working for yourself as q writer,
photographer, appraiser, adjuster.
artist, private teacher. sign paint
er, detective, independent contrac-
tor etc. Partners in business are
considered self-employed.
If you work for someone else
ard also own your own business
you will receive credit for both
your self-employment income and
the wages paid to you by your em-
ployer, up to total Of $500 a
year. Your earnings from self-em-
ployment will count only if they
amount to $400 or more In year.
Earnings which do NOT count
toward social security payments
are earnings of less than $400 in
self-enployment and earnings
over the first $500 In any year.
Regardless of the amount, your
income cannot be counted toward
social security If you earn 1t from
self-employment as a farm OPP
orator, physician, lawyer, den
tist, osteopath. chiropractor, op-
tometrist, naturopath, veterinar-
ian. architect, certified public .ac-
countant, licensed or registered
accountant, full time practicing
accountant, Christian 5 ci n e
practitioner, professional engine
er, funeral director.
If employed by someone else
in any of the foregoing professions
your wages will be counted for
social security purposes. Self-em-
ploynent as sole owner or as a
partner in the professions listed
is not counted toward social Sc
curity benefits.
Earnings from real estate will
not count toward social security
benefits unless you are in the
real estate business. Your income
from personally-owned stocks or
bonds will not count for social Sc
curity purposes.
Here is what you should do:
Cd If you have never had a So
cial security card, you should get
one at your social security office
before you file your income tax
return in 1852, (21 If you have
lost your card, ask for a copy,
(Application blanks are available
at the postoffice.) 80 If you have
self-employment income that will
count toward social security bene-
fits, you should make report of
your earnings and pay your So
cial security tax when you file
your Federal income tax return
for 1851 (Due in 1882 A social
security report form will be part
of your income tax blank. Your
security fax on your self-employ-
ment income will be "a ee through
the year 1858.
There are two times for action.
No social security payments can
be made until an application has
been made. ID When you are 65
you should call at the social Sc
curity office and ask about bene-
fits. (2) In case of your death,
your family should Eotify the
social security office and ask
about benefits.