Avernus Posted August 5, 2010 Share Posted August 5, 2010 I'm trying to find a way to stop paying into Social Security and read that I would need IRS form 4852 - this is incorrect (I think anyways) does anyone here know of a way to legally stop paying into Social Security? 'preciate the feedback in advance.. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 5, 2010 Share Posted August 5, 2010 Members of certain religious groups who are opposed to accepting the benefits of any public or private insurance for death, disability, old age, retirement or health care can request to be exempted from paying social security and Medicare taxes on earnings as an employee or on earnings from self-employment. The tax exemptions must be applied for on Form 4029 Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits. that and having a military pension i think, are the only ways to get out of it. or not making money. Quote Link to comment Share on other sites More sharing options...
DMD Posted August 5, 2010 Share Posted August 5, 2010 I am pretty sure the only legal way to stop paying in is to stop having any income. It's not about you not paying for you, it is about you not paying for everyone else that they consider the problem. I would bet that waiver that dmarc mentions would be not be taken lightly and would require a ridiculous amount of proof you are not scamming the government. I worked with (and against) the IRS for many years in cases involving both individuals and a business. Not much wiggle room on their side. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2010 Author Share Posted August 5, 2010 thanks dmarc and DMD....you both offered me more info than I could find in what took almost an hour... maybe I could join the nearest Amish or Mennonite community Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted August 5, 2010 Share Posted August 5, 2010 dont think congress or the senate pay in ... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 5, 2010 Share Posted August 5, 2010 dont think congress or the senate pay in ... that too Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted August 5, 2010 Share Posted August 5, 2010 I don't think teachers pay in either. They collect teacher retirement in lieu of SS. I'm not sure, I'd have to ask the wife, but I think I'm right in that. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted August 5, 2010 Share Posted August 5, 2010 If there were an easy way to opt out of Social Security people would be doing it all the time. Heck I would pay a decent amount of money just for the opportunity to stop contributing now with the understanding that I forfeit all rights to draw any money from the bankrupt program some day in the future. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2010 Author Share Posted August 5, 2010 If there were an easy way to opt out of Social Security people would be doing it all the time. Heck I would pay a decent amount of money just for the opportunity to stop contributing now with the understanding that I forfeit all rights to draw any money from the bankrupt program some day in the future. I was of the understanding that people still believed that social security was there for their retirement and not government spending....and that not everyone knows/thinks that their money won't be there by the time they retire.. Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 5, 2010 Share Posted August 5, 2010 Just so you don't forget, you already HAVE benefitted from Social Security. If your parents had died when you were a minor (and well before you yourself contributed a penny to SS), you were basically insured by Social Security that you would get payments so you wouldn't starve to death. Quote Link to comment Share on other sites More sharing options...
frenzal rhomb Posted August 5, 2010 Share Posted August 5, 2010 make over 106k and they will stop taking it for you. Dont even need to complete a form. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 5, 2010 Share Posted August 5, 2010 make over 106k and they will stop taking it for you. Dont even need to complete a form. if that were only true Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2010 Author Share Posted August 5, 2010 Just so you don't forget, you already HAVE benefitted from Social Security. If your parents had died when you were a minor (and well before you yourself contributed a penny to SS), you were basically insured by Social Security that you would get payments so you wouldn't starve to death. I know this and think that social security was and currently is beneficial....I'm talking about the future and the bridging of what it was about and is about to be....if not already... I am extremely cautious that the government will simply take over social security and give to/take from people as they see fit according to whatever system we're headed into....because social security will be all gone by the time I would benefit from it.. Quote Link to comment Share on other sites More sharing options...
yo mama Posted August 5, 2010 Share Posted August 5, 2010 I know this and think that social security was and currently is beneficial....I'm talking about the future and the bridging of what it was about and is about to be....if not already... I am extremely cautious that the government will simply take over social security and give to/take from people as they see fit according to whatever system we're headed into....because social security will be all gone by the time I would benefit from it.. I don't think the people currently in charge of social security would let that happen. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2010 Author Share Posted August 5, 2010 I don't think the people currently in charge of social security would let that happen. same here....but you used the word "currently" and "currently" I agree, but in the next 10 or even 20 years, I am weary.... Quote Link to comment Share on other sites More sharing options...
frenzal rhomb Posted August 5, 2010 Share Posted August 5, 2010 if that were only true http://www.ssa.gov/pressoffice/colafacts.htm Quote Link to comment Share on other sites More sharing options...
yo mama Posted August 5, 2010 Share Posted August 5, 2010 if that were only true you still contribute to SS on the first $106k, but cease contributing for ever dollar earned after that. Thus, the solution to this problem is the same as any other: go earn more money. Quote Link to comment Share on other sites More sharing options...
Moss6 Posted August 5, 2010 Share Posted August 5, 2010 Move to Montana and arm yourself Quote Link to comment Share on other sites More sharing options...
borge007 Posted August 5, 2010 Share Posted August 5, 2010 (edited) I don't think teachers pay in either. They collect teacher retirement in lieu of SS. I'm not sure, I'd have to ask the wife, but I think I'm right in that. Teachers in Minnesota do. Prior to the mid 80s they did not-only into their retirement fund. Now they pay into both social security and retirement. It probably varies from state-to-state. Edited August 5, 2010 by borge007 Quote Link to comment Share on other sites More sharing options...
cdrudge Posted August 5, 2010 Share Posted August 5, 2010 dont think congress or the senate pay in ...Generally speaking, that is not true these days. And prior to 1984, they didn't, but they had to pay into a similar retirement fund. Quote Link to comment Share on other sites More sharing options...
TimC Posted August 5, 2010 Share Posted August 5, 2010 Just pray you win the DNA lottery and will be able to cash in. Dumbest program ever. If you can't afford yourself when you retire, simply die and stop being a burden on society...you had your chance. Quote Link to comment Share on other sites More sharing options...
yo mama Posted August 5, 2010 Share Posted August 5, 2010 Just pray you win the DNA lottery and will be able to cash in. Dumbest program ever. If you can't afford yourself when you retire, simply die and stop being a burden on society...you had your chance. The Eskimos were on to something... Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted August 5, 2010 Share Posted August 5, 2010 I don't think teachers pay in either. They collect teacher retirement in lieu of SS. I'm not sure, I'd have to ask the wife, but I think I'm right in that. Yup. Currently 14% of every paycheck goes to my retirement system. SS gets nada. So far. Quote Link to comment Share on other sites More sharing options...
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