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Hard to collect the individual and company paid portions of the social security tax if the person is not paid; and SS is paid based on a combination of what you put into the system (plus employer portion), as well as quarters worked.
Perhaps if the large non-profits like Red Cross paid the SS taxes for volunteers at a minimum wage level, but then that adds an expense they don't currently have, so I doubt they would sign up for a cost they currently don't have, and it may cause them to turn away "volunteers" that can't be more productive than the cost the organization incurs for their "volunteer" work (welcome to the free market!).
I volunteer for organizations with goals or services that I support, and that need my services to do their "mission." That won't change whether I get SS credit for that service or not.
I have not thought it through completely and would appreciate some feedback here..
Volunteer hours should go towards social security benefits (like working).
To encourage folks to volunteer (for legitimate programs..)
What do you think?
Mike G
Would you have them dig into their pockets to pay for their contributions to Social Security and Medicare? Because the working folks contribute to Social Security and Medicare funds through payroll deductions, and their employers also pay into those funds for their employees, it's not free.
And would those volunteers contribute just an employee's share of SS and Medicare, or like self-employed people, pay both parts ( around 14% or so for SS) as their contributions.
I don't believe volunteer hours should go towards either program.
The problem with the SS payroll contributions has already been stated, and I agree.
I do think volunteer work is valuable. But how do you put a dollar value on it to list as a charitable contribution on federal tax form 1040 schedule A? And if you get a tax deduction for the value, you would need to include the value as taxable income in the first place.
FYI,
If you drove to and from the volunteer work, you can take the actual cost of gas and oil or 14 cents a mile. Add parking and tolls to the amount you claim under either method. But do not deduct any amounts that were repaid to you. (reimbursed).
Personally, I think its a dumb idea. If you want to be compensated for your work, get a job and get paid. What you're essentially asking is that I and all other tax payers, further subsidize your volunteerism. Retirees already get all kinds of benefits, SS, Medicare that others work to provide. And now, you want a further subsidy so you don't have to pay the very meager taxes you pay. Unbelievable.
OP, you are dreaming. What is it about the word "volunteer" that you don't understand? I spend about 15 hours a week in volunteer work and I don't expect to be compensated in any way.
Why does very one want something. A volunteer is basically never paid or its just another income job. No stick to people who do it because they want to. I am sure we are all use to the volunteer who really doesn't want to be there. Besides SS is in enough problem continuing to pay those who put into the system.
It would never work here in Phoenix area where there are 10 volunteers for every opening ! Too many retirees flooding the market ! But if it did happen to get promoted, I would like airline miles instead of $$$.
I have not thought it through completely and would appreciate some feedback here..
Volunteer hours should go towards social security benefits (like working).
To encourage folks to volunteer (for legitimate programs..)
What do you think?
Mike G
No. Only those who contribute money into the program should receive benefits. Too much being drained from the fund now.
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