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How My Ex-husband Lowered My Social Security
A cautionary tale if your spouse is self-employed.
My ex-husband lowered his social security earnings. His goal? To make sure I wouldn’t get the amount I should receive. It impacts his own social security benefits.
It sounds crazy.
Here’s how and why he did it.
It started the moment I told him I might leave him.
It’s a cautionary tale if your spouse is self-employed, and/or you own a business together. Self-employed individuals can manipulate income. It’s the reason they account for some of the most financially abusive divorces.
I told my husband I was unhappy in our marriage.
He began to alter the earnings.
There are zero dollars reported for social security that year.
The following year there’s $10,000 reported. My husband changes his tactics. Instead of writing off the business income he begins to pay himself as an employee of our company.
He pays himself under $30,000 annually.
I remain in my marriage.
It’s a mistake.
It compromises me personally and financially. I have no idea my husband is hiding our assets. Not to mention…