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Has anyone???????

 
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Post Has anyone??????? sheepdogandy
Opted out of Social Security?
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Charles A. Hutchins
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5/11/18 5:18 pm


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Post Old Time Country Preacher
Ma cousin, Lem, opted outta payin income tax fer a few years.

Course, after at little stint in jail, ole Lem is payin his taxes right regular like.
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5/11/18 5:28 pm


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Post sheepdogandy
Laughing

I can imagine.

I was told a fellow minister had opted out.

I could not see how he did that?
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Charles A. Hutchins
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5/11/18 5:35 pm


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Post Old Time Country Preacher
sheepdogandy wrote:
Laughing

I can imagine.

I was told a fellow minister had opted out.

I could not see how he did that?



There was a window of time several years ago when ministers could "opt out" of paying social security on their ministry income. It was only for ministry income. I don't know that it can be done anymore.
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5/11/18 6:03 pm


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Post Mat
Old Time Country Preacher wrote:
sheepdogandy wrote:
Laughing

I can imagine.

I was told a fellow minister had opted out.

I could not see how he did that?



There was a window of time several years ago when ministers could "opt out" of paying social security on their ministry income. It was only for ministry income. I don't know that it can be done anymore.


I think those who never held a secular job wished they had not done that. It may have worked well for bi-vocational pastors, but you got to get your time in for both Medicare and SS benefits. Every other year my wife and I get our a notice of our qualifications for both, and even with retirement accounts, I wonder if Walmart will hire me when I retire. Even so come LORD Jesus!

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5/12/18 6:59 am


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Post Cojak
If a guy/gal is in their 30's and could opt out, it might be a good idea. But for anyone in their 50's and up seems sorta ridiculous if they have paid into SS. I am sure if a person has a great income and knows how to invest he could do better, but not late in life.
I opted in myself. I paid as little as possible and knew my SS would be less than most but I augmented it with rental property over the years.
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5/12/18 10:46 pm


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Post SouthFloridaman
It’s a risk I may not be willing to take. But then again if social security fails then we may all wish we opted out. Friendly Face
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5/14/18 3:58 pm


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Post Link
Yes, by living overseas for much of my life. It comes with the territory.

Don't they only allow that for clergy whose organizations actually take care of them after retirement?
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5/14/18 11:44 pm


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