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Paying Social Security taxes is mandatory, however. Even if your income exceeds the means testing limits, you are still required to pay Social security (FICA) taxes on the income that falls beneath it.
So, it is quite better to have the Social Security earnings statement as it will give a better, easier, comfortable, less-dependent life after the retirement.
Social security my account describes it is the best way why to have it as retirement savings. So, have it and make your happy days, even happier.
What else can I help you with?
Can you avoid paying social security taxes?
No, individuals cannot avoid paying social security taxes as they are mandatory contributions to the social security system.
How can I legally avoid paying social security taxes?
You cannot legally avoid paying social security taxes as they are mandatory for most employees and self-employed individuals.
Is it possible to not pay social security?
No, it is not possible to opt out of paying Social Security taxes as they are mandatory for most workers in the United States.
Do you need Social Security tax taken out of your paycheck?
If you're asking whether paying social security tax is mandatory, the answer for most people is yes.
What is an example of mandatory spending?
Social Security
What is a mandatory deduction in paycheck?
social security
Is social security a discretionary program?
The social security system is mandatory, not discretionary. You do not have the option of declining to participate.
What is is the greatest mandatory federal government expenditure?
social security
Is an optional deduction?
Medicare, like social security is a mandatory deduction.
Is medicare an optional deduction?
Medicare, like social security is a mandatory deduction.
What year did social security numbers become mandatory on tax returns?
1960
What is the next highest paying state for social security?
California
