2007-10-15 09:03:30 · 7 answers · asked by b m 1 in Business & Finance ➔ Taxes ➔ United States
No.
The only way you can opt out of social security taxes is to earn a living with investments. Investment income is not subject to the tax.
Interestingly, another participant here informed all of us that you can if you live in Galveston, TX. No refunds, but you can opt out of ssi in the future.
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2007-10-15 09:15:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Not generally. Verified members of certain recognized religious sects are allowed to opt out but must apply for it, it isn't automatic. And some government bodies' employees contribute to a government retirement system other than social security.
2007-10-15 09:58:45 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
I have heard of people opting out and doing an IRA or 401K instead but I really doubt you can get back what you've put in. I'd suggest calling Social Security to inquire.
2007-10-15 09:15:17 · answer #3 · answered by Deb S 6 · 0⤊ 2⤋
No. If this was allow then everyone would do it. Social Security was designed to supplement a person's savings and other retirement plans.
2007-10-17 14:25:52 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
If you are working on a job covered by Social Security you have no option but to pay it.
2007-10-15 10:51:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
now way Jose -- u think the Congress is gooona let u take back the hard earned money u made and sent to them -- hey
its already spent -- they don't have it
2007-10-15 09:08:41 · answer #6 · answered by de viking 4 · 1⤊ 0⤋
No, it is not; and, despite your denials, the day may come when you are glad that is the case.
2007-10-15 09:11:17 · answer #7 · answered by geniepiper 6 · 0⤊ 0⤋