Do you ever get self employment tax back?
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Q&A: Do you ever get self employment tax back?
Lets say I had 00.00 in self employment tax last year, do I get that back this year? if so how?
Q&A:
Answer by muncie birder
might get some of it back when you retire, maybe.
Answer by Brenda M
If you’ve actually paid out $ 2,000.00 in taxes and then it is discovered in tax filing that this tax paid is not necessary . . . then it will be a credit to you. I didn’t find the question very clear.
Answer by Venetian Poker
No, you don’t. Self employment tax is like FICA. You don’t get it back.
(This sets aside the discussion that you could have about when you eventually collect social security benefits. You could argue that you get the money back then, but that’s not wholly accurate as your FICA is not being held in an investment account for you; it goes to pay current benefits.)
Answer by Judy
If you made estimated payments and overpaid, you’d get the excess back, but otherwise no.
Answer by wartz
You get it back with interest when you reach full retirement age.
Answer by Jss
No.
You may become eligible for SS benefits.
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