You Can Collect Social Security Benefits Even If You’ve Never Worked | Greeman Toomey, PLLC (2024)

FAQs

Can you collect Social Security if you've never worked? ›

But even if you never worked and therefore don't have an earnings record, you're not necessarily out of luck. If you're married (or were married) to someone who's entitled to Social Security, you can collect spousal benefits equal to 50% of your husband or wife's benefits at full retirement age.

Although you need at least 10 years of work (40 credits) to qualify for Social Security retirement benefits, we base the amount of your benefit on your highest 35 years of earnings.

You must pay 15.3% in Social Security and Medicare taxes on your first $68,600 in self-employment earnings, and 2.9% in Medicare tax on the remaining $1,000 in net earnings. You must have worked and paid Social Security taxes for a certain length of time to get Social Security benefits.

It may be that you haven't worked or you don't have enough Social Security credits, and you're married. If so, you may be eligible for Social Security benefits as a result of your spouse's work. You and your children have Social Security protection through your spouse's work if they have enough credits.

If you've recently lost your job and are nearing retirement age, you may be eligible to collect benefits. You could apply for unemployment and Social Security and receive both at the same time. Unemployment benefits are distributed to workers who have lost their financial support and meet certain requirements.

Social Security's special minimum benefit pays at least $49.40 per month in 2023 and $50.90 in 2024. Social Security's special minimum benefit tops out at $1,033.50 per month in 2023 and $1,066.50 in 2024. You'll receive 100% of the benefit if you file at full retirement age or later.

Just because you don't bring home a paycheck doesn't mean you're not working. A stay-at-home parent can get a Social Security check just like any other worker.

The Social Security five-year rule is the time period in which you can file for an expedited reinstatement after your Social Security disability benefits have been terminated completely due to work.

If you have either a sole proprietorship, partnership or a limited liability company (LLC) without a corporate election, all your business income gets passed on to your individual tax return. If you made at least $400, you'll pay Social Security taxes on your business profits when you file your annual tax return.

Can a disabled person on SSDI have an S-corp or LLC? Short answer: Yes. There is no specific rule stating you cannot have an S-Corp or LLC. However, there are income limits depending on how you generate income or the work you still perform for that business (even if no income is generated).

Can you have a business and still collect Social Security? ›

You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefits. Starting with the month you reach full retirement age, we will not reduce your benefits no matter how much you earn.

The 2024 fiscal year began on October 1, 2023, and ends September 30, 2024. The 2023 fiscal year began on October 1, 2022, and ended September 30, 2023. A regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.

In 2024, there are 251 work days. The other 115 days of the year consist of weekend days and Federal holidays.

The 2024 calendar will be a perfectly identical match to the 1996 calendar. The seven years that share the same calendar in the current 200-year timeframe include 1940, 1968, 1996, 2024, 2052, 2080 and 2120, according to timeanddate.com.

If you are a U.S. citizen age 65 or older, you can get Medicare regardless of your work history — but your costs could vary. If you've paid Medicare taxes for at least 10 years, you can enroll in Medicare Part A and won't pay a monthly premium .

For a spouse who is not entitled to benefits on his or her own earnings record, this reduction factor is applied to the base spousal benefit, which is 50 percent of the worker's primary insurance amount.