Full question: Thank you for your videos! I’m thinking about drawing Social Security sometime soon as well as retiring, I’m 65. I know that I will be paying federal tax (prob 85%) on my benefit. My question is, while you are drawing Social Security do they still take out OASDI taxes?

Hello,

I’m glad you like our videos!

When a Social Security recipient collects their benefits, they are not paying FICA tax on their benefits.

However, if you continue to work and make earned wages, then you will still have to pay FICA (payroll) taxes on that income.

If you have any thoughts on the optimal time to collect benefits, you should consult with an RSSA who can work with you to create a personalized Social Security plan.

Take care,
Martha

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