Will you "volunteer" to leave Social Security? (income, amendment, pay)

[Sophiasmommy]

Originally Posted by Driller1

I just saw your question.....

I am self employed and the bottom line on my 1040 is "0".

Quick question, isn't that a red flag for the IRS to audit you? My husband is self employed as well, that's why I ask.

[AuDiBelle]

I would opt out, even if I couldn't recover a penny of what I've already contributed. It would be even sweeter if employers gave employees the % that they currently send to the gov on their behalf. Just think, everyone would get an automatic 12% raise to invest however you see fit.

[HappyTexan]

I'll leave if they give me back all the money I "loaned" them via my paycheck.

[AuDiBelle]

Originally Posted by Sophiasmommy

Quick question, isn't that a red flag for the IRS to audit you? My husband is self employed as well, that's why I ask.

I thought I had read somewhere that you cannot claim $0 indefinitely. You have to show a profit every so many years, but I don't recall the details (I'm not self employed).

[Sophiasmommy]

Originally Posted by whatyousay

I thought I had read somewhere that you cannot claim $0 indefinitely. You have to show a profit every so many years, but I don't recall the details (I'm not self employed).

yeah, I'm so confused, and it's really cloak and dagger with those that did some how manage to "opt out." Some lib posted a link from the IRS saying that it was mandatory, yet we have several posters saying the contrary, but not wanting to divulge how. I guess I can maybe see how someone self employed might be able to, but how can you work for a company and not pay in/receive bennies?

[BigJon3475]

Originally Posted by Sophiasmommy

yeah, I'm so confused, and it's really cloak and dagger with those that did some how manage to "opt out." Some lib posted a link from the IRS saying that it was mandatory, yet we have several posters saying the contrary, but not wanting to divulge how. I guess I can maybe see how someone self employed might be able to, but how can you work for a company and not pay in/receive bennies?

This is the only thing I can find:

http://www.irs.gov/pub/irs-pdf/f4029.pdf

[WestCobb]

Originally Posted by Speleothem

If I were younger, I'd opt out in a heartbeat, but I've paid in all my life.

So you probably voted "Yes" on the poll even though the real answer is "No."

[BigJon3475]

It's pretty much half and half.

That would make the system collapse which is likely why you'll never hear of a way to opt out that isn't like jumping through hoops.

[Quick Enough]

Originally Posted by HappyTexan

I'll leave if they give me back all the money I "loaned" them via my paycheck.

Plus interest.

[tinman01]

if they gave me all the money I have paid in back in 1 lump sum ?
In a new york minute I would opt out.
I would put it in my own IRA and it would do a lot better for me than what its doing now.