Q. I receive a generous (approximately $100,000) CSRS annuity. I’m self-employed. Considering that the windfall elimination provision may not allow me to collect Social Security benefits, do I have to pay Social Security taxes I will never collect?
A. You are required by law to pay Social Security taxes on earnings from wages or self-employment. Fortunately, the windfall elimination provision won’t eliminate any Social Security benefit you are entitled to. It will only reduce it if you have fewer than 30 years of substantial earnings under Social Security. To see how it might affect you, go to www.ssa.gov/pubs/10045.html.
