Net earnings for Social Security are your gross earnings from your trade or business, minus all of your allowable business deductions and depreciation. Some income does not count for Social Security. Do not include the following in figuring your net earnings:
1. Dividends from shares of stock and interest on bonds, unless you receive them as a dealer in stocks and securities.
2. Interest from loans, unless your business is lending money.
3. Rentals from real estate, unless you are a real estate dealer or regularly provide services mostly for the convenience of the occupant; or
4. Income received from a limited partnership.
for details visit
http://ref.michigan.org/medc/common/book/topic.asp?BookId=5&BookName=Starting+a+Business&ChapName=Being+Self-Employed&ChapId=110&TopicId=552&TopicContent={2DE821AE-C399-4B19-9967-8CB233CC42B8}&m=;
posted by srikanth....july9
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