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I have just observed that my social security statement shows 0's for the past few years. I am surprised toknow that nothing is being dedcuted from my paycheck for social security and medicare. what should I do now? some say to check with my employer and some other say to enjoy with what ever u save today as we don't know what happens to these benefits after 30 years. what do u think?

2006-09-08 19:34:07 · 7 answers · asked by mitwa u 1 in Business & Finance Taxes United States

7 answers

Are they withholding federal taxes? - Perhaps you are an independent contractor and don't realize it. If that is the case when you get the 1099 and have your taxes prepared as a self-employed individual you will pay self employment taxes (on Schedule SE) which will go towards social security.

2006-09-11 13:04:09 · answer #1 · answered by FlCpa 3 · 0 0

By all means, check with Social Security. There are some situations --though few--where Social Security taxes are not deducted. Government employees, for instance, often have deductions for Medicare but not Social Security. Legal residents of the US are also exempt, I believe, until they obtain citizenship.

2006-09-08 19:42:42 · answer #2 · answered by sselfe 1 · 0 0

I say that you need to check and see if your employer may be paying these taxes for you. If not, have them start withholding this from your paycheck. Our system will be in play in the future and it will help you upon retirement & old age!

2006-09-12 07:08:54 · answer #3 · answered by lade40free 2 · 0 0

If they aren't deducting, then you won't have benefits when you get older, its about how much you put into it. I would definately check with your payroll department because something is definately wrong. Its a standard percentage and its not based on how many dependents you have.

2006-09-08 19:41:30 · answer #4 · answered by Sandi A 4 · 0 0

all depends on how much you make a week, there is a minimum you have to make befor those benefits get taken out of your check, look it up, you have the world at your fingertips

2006-09-08 19:40:19 · answer #5 · answered by Steelr 4 · 0 1

you better have it checked out......otherwise you just may be in for a shocker........like paying it all back at once.....so you better look into it

2006-09-08 19:35:40 · answer #6 · answered by Lisa 5 · 0 0

tell your employer. both of you can get in trouble if you don't pay it.

2006-09-08 19:36:46 · answer #7 · answered by Anonymous · 0 0

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