Early Retirement & Financial Independence Community

Early Retirement & Financial Independence Community (http://www.early-retirement.org/forums/)
-   FIRE and Money (http://www.early-retirement.org/forums/f28/)
-   -   Social Security Taxes (http://www.early-retirement.org/forums/f28/social-security-taxes-49597.html)

rdjrn 04-07-2010 09:49 AM

Social Security Taxes
 
If I retire prior to age 62, will I be required to continue paying social security taxes? Any advice would be appreciated.

MasterBlaster 04-07-2010 10:13 AM

If you retire and quit receiving earnings from a job there will be NO requirement to pay SS taxes.

SS taxes are only on so called "earned" income not on pensions or savings, rents, dividends etc. which are un-earned income.

youbet 04-07-2010 12:15 PM

What MasterBlaster said......

And further, the age of 62 has nothing to do with paying SS taxes. If you have earned income, up to the limit of about $106k, you pay. No earned income, you don't pay. Age is not a factor.


All times are GMT -6. The time now is 01:18 AM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.