Discussion:If one has two jobs he has the option to not withold FICA from one of his jobs??
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| Revision as of 19:14, 22 January 2006 TGilliam (Talk | contribs) ← Previous diff |
Revision as of 02:07, 23 January 2006 Anuenue (Talk | contribs) (If one has two jobs he has the option to not withold FICA from one of his jobs??) Next diff → |
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| {{ForumReplyPost|UserID=TGilliam|Date=22 January 2006|Text=Fica (SS & medicare) is mandatory for all employess from all jobs. In most cases. As DZCPA says certain exceptions apply.}} | {{ForumReplyPost|UserID=TGilliam|Date=22 January 2006|Text=Fica (SS & medicare) is mandatory for all employess from all jobs. In most cases. As DZCPA says certain exceptions apply.}} | ||
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| + | {{ForumReplyPost|UserID=Anuenue|Date=23 January 2006|Text=social security is withheld to $90,000 of income, medicare total income. | ||
| + | The military, teachers in some states, government (all the way down to city employees) were allowed to opt out around 20 years ago...it wasn't on a person to person basis. It was by 2/3 majority. I don't know the year but several new employees of the same agency began having to have their FICA/MED withheld. They did not get grandfathered upon hire. | ||
| + | At least this is what happened in CA back in the 80's. | ||
| + | anuenue}} | ||
Revision as of 02:07, 23 January 2006
Discussion Forum Index --> Tax Questions --> If one has two jobs he has the option to not withold FICA from one of his jobs??
Correababe (talk|edits) said: | 22 January 2006 |
| 22 January 2006 | |
| Withholding is typically not an option. So the quick answer is no. If he could qualify as an independent contractor then yes. Since the employee would get back any excess Fica withheld (in excess of FICA limit) it should not hurt the employee financially as excess FICA is treated as withholding. The employer on the other hand pays the match and that money is gone. | |
| 22 January 2006 | |
| If are an employee with two companies, FICA will be witheld by both. There is no option to stop one from withholding. I agree with Gilliam. Im assuming no clergy employment or Govt. | |
Correababe (talk|edits) said: | 22 January 2006 |
| What about the SS part? Can he opt to not withold SS? | |
| 22 January 2006 | |
| Fica (SS & medicare) is mandatory for all employess from all jobs. In most cases. As DZCPA says certain exceptions apply. | |
| 23 January 2006 | |
| social security is withheld to $90,000 of income, medicare total income.
The military, teachers in some states, government (all the way down to city employees) were allowed to opt out around 20 years ago...it wasn't on a person to person basis. It was by 2/3 majority. I don't know the year but several new employees of the same agency began having to have their FICA/MED withheld. They did not get grandfathered upon hire. At least this is what happened in CA back in the 80's. anuenue | |
