bobbyw24
Banned
- Joined
- Sep 10, 2007
- Messages
- 14,097
The first way to get out of paying into Social Security is by being a member of the clergy, according to Joe Elsasser, a financial planner who specializes in Social Security and other related financial topics. Elsasser strongly advises against this for reasons to be discussed later in this column. However, clergy can opt out of Social Security by filing IRS Form 4361, which is the Application for Exemption From Self-Employment Tax for Use by Minister, Members of Religious Orders and Christian Science Practitioners.
There's another very limited way to avoid paying into Social Security, says Craig Copeland, senior researcher for the Employee Benefit Research Institute. Some federal workers covered under the old retirement plan — many of whom are approaching retirement age now — could avoid paying in, he says. New and newer federal employees, though, must pay into Social Security, Copeland says.
http://www.usatoday.com/money/perfi/columnist/krantz/2011-04-27-opting-out-of-social-security_n.htm
There's another very limited way to avoid paying into Social Security, says Craig Copeland, senior researcher for the Employee Benefit Research Institute. Some federal workers covered under the old retirement plan — many of whom are approaching retirement age now — could avoid paying in, he says. New and newer federal employees, though, must pay into Social Security, Copeland says.
http://www.usatoday.com/money/perfi/columnist/krantz/2011-04-27-opting-out-of-social-security_n.htm
