Freelance workers can collect Social Security too
There are certainly a lot of advantages to being a freelance worker, not the least of which are that you can pick the projects you work on and you don’t need to deal with the sometimes stressful and often mundane issues that salaried employees endure. But since corporate employers pay one half of the Social Security “FICA” tax, does that mean that freelance workers won’t be able to eventually collect Social Security? The quick answer is that they will, because as a self-employed person, the freelancer must pay both the employee and employer portion of FICA, and as long as they have earned the requisite 40 “quarter-credits” needed to quality, they are every bit as entitled to Social Security as the corporate employee, as explained in this Motley Fool article by Maurie Backman. Click here to read more.