Top
image credit: Unsplash

When Do I Stop Paying Social Security Tax?

Of all the taxes that come out of your paycheck, none may be as inescapable as those that go to Social Security. Whether you’re salaried or self-employed, you must generally contribute throughout your entire working life. There are, however, a few exceptions, which we’ll cover here.

Basics of Social Security Withholding

If you work for an employer, your paycheck will likely show an amount withheld for FICA, the Federal Insurance Contributions Act. FICA includes both Social Security and Medicare, the federal health insurance program for Americans 65 and over.

Read More on Investopedia