Social Security credits and self-employment: what owners should verify

Credits establish eligibility

The number of credits required depends on the benefit and the worker’s age. For retirement benefits, many people need 40 credits, but the amount of earnings required for a credit changes over time. Official Social Security sources should be used for the current figure.

Earning more than the annual credit threshold does not create unlimited credits in one year. The program limits the number earned annually.

Self-employed owners should review reported earnings

Net earnings reported for self-employment can affect Social Security coverage. Owners should compare tax records with their Social Security earnings history and correct errors through official channels.

Some state and local government employment may be covered differently. Teachers and public employees should verify whether their specific position participates rather than relying on a general assumption.

Use an official account

A personal my Social Security account can display an earnings record and benefit estimates. USAPlans does not calculate or guarantee benefits and should never request a visitor’s Social Security number through a website form.