I’m 51 and my husband is 53. We own our own S Corp business. He is on track to get around $2,000-$3k a month from Social Security based on the payroll that we give him every month. I do not take a payroll from our S Corp. Is there any benefit for me to also take a payroll so that I get more social security?
We have a Roth and Ira and other sources of income for retirement. But I will be banking on approximately $3,000 a month for Social Security.
I’m not sure if I should contribute and give myself a payroll to bump up my social security.
Is there any other reason why I need to take a payroll or is it okay just to leave payroll running through my husband’s name?