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Hello, I am looking for jobs in Finance, accounting fields and I have done Masters and bachelors in mathematics. I have also done Canadian Investment Funds course Certification, still no luck in finding a good field job. Any referrals in Finance sector or banking sector would be appreciated. I am on PGWP and need a job ASAP. If someone from RBC or Scotiabank can refer me for banking advisor or entry level analyst roles would be great. TIA
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Did you recently graduate and working on OPT? Workers who are still on an F-1 visa are exempt from SS and Medicare taxes
Non residents (if you’ve been here less than 5 years) don’t have to pay Medicare and social security
Definitely not true, gotta pay!
When you reach income level of 137,700 they will no longer take this.
Rising Star
They take it out until you hit 137k
If you make 150k for example, your gross pay may get to 137 in August for example. You will pay social security until August.
“I didn’t know” is not an excuse the IRS will accept, and they will get their money one way or another plus fees.
Bro, you make money in this country, use its resources, pay your fair share!
If you don’t, I hope it bites you in the future. We are all paying high taxes and it is not fair to those who follow the rules.
This is my old handle.
... explain that to the IRS?
I am new to America. What if I say - I have no idea. I never told them to not deduct. They deducted federal and state taxes. I never told them not to deduct social security and Medicare.
Pro
Yes it matters. The tax treaties are country dependent. But gauging from your response, I can guess where from.
No, i am on H1 visa.
Seeing the many bad responses, here goes the short answer: They MUST be collected.
You need to tell your employer and they will start collecting them retroactively in your next paychecks. Which means for a while you’re gonna have less $$ hitting your account because you’re gonna pay twice the FICA (the one you have to, plus the one you should have paid before), but such is life.
If you did OPT-H1B, make sure they collect ONLY for the H1B period (unless you were on F visa for more than 5 calendar years, which I doubt)
Sounds like you’re taxed as a contractor and not as a full time employee IMO