Social Security & Medicare

PoindexterOglethorpe

(28,002 posts)

15. Payroll taxes, FICA

Thu Jul 5, 2018, 10:43 PM

Jul 2018

which is social security, is something everyone pays on their earned income even if they don't pay federal or state income taxes. Unearned income (interest, dividends, sale of stocks and the like) do not incur FICA, even when they result in federal or state income taxes.

I have likewise known more than one person who either worked entirely off the books, or largely so, and then in their mid-sixties were horrified to learn they wouldn't get any Social Security.

Too many people don't think things through.

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15 replies

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Collecting Social Security and Medicare if you haven't paid taxes [View all] Poiuyt Apr 2018 OP

Everyone is entitled to SSI I think exboyfil Apr 2018 #1

I agree that he's been exploiting the system Poiuyt Apr 2018 #5

For Medicare..... asiliveandbreathe Apr 2018 #2

Not if he hadn't paid into it (fica deductions). brush Apr 2018 #3

Is he a veteran? JustABozoOnThisBus Apr 2018 #4

Not a vet Poiuyt Apr 2018 #6

Anyone who has worked for 40 quarters, is eligible for SS and Medicare. Big Blue Marble Apr 2018 #7

If he had always worked on a cash basis, hes screwed Fiendish Thingy Apr 2018 #8

If my memory is right ... left-of-center2012 Apr 2018 #9

He is lucky he hasn't been charged with tax evasion MichMan Apr 2018 #10

I'm sure you're right Poiuyt Apr 2018 #11

Gosh, he never paid in and now he wants to collect? PoindexterOglethorpe Apr 2018 #12

One can buy into Medicare if doesn't have the 40 quarters of payroll deductions progree Jun 2018 #13

I know two single Moms (both having one child). Both self-employed. One paid into the system progree Jun 2018 #14

Payroll taxes, FICA PoindexterOglethorpe Jul 2018 #15