If you are a U.S. citizen living overseas, is there a way to direct a percentage of your wages into Social Security back home?

Pascal the Gambler

You would file a US return as self employed and pay and self employment taxes that your return directed you to (these are SS and medicare contributions). Rich CEO's actually don't pay relatively very much into SS and you can't make voluntary payments anyway.

zman492

It appears it depends upon a number of things. The following page will tell you what to do in most situations. https://www.irs.gov/individuals/international-taxpayers/social-security-tax-consequences-of-working-abroad

NA

If you work for a US employer who sent you abroad for 5 years or less, and the country you go to has a SSA treaty with the US, your employer would withhold FICA and MC. The treaties help when you have a mix of years in two countries. Otherwise you can't. There is no buy in mechanism. If you file and do NOT exclude your foreign income, you can save money in a tax-deferred IRA or ROTH IRA.

Max Hoopla

If you are self-employed or working for a US company your earnings will be credited to your Social Security earnings account. If you are employed by a foreign country you may be covered by its version of Social Security.

StephenWeinstein

Rich CEOs don't want their wages going into Social Security. If you are working and social security tax is not being withheld from your pay, you fill out Schedule SE, which is a very simple form, which basically says to take the amount you made, multiply by 0.9235 (92.35%), and then multiply by 15.3% (0.153). The end result is approximately 14% of what you made. You attach it to the Form 1040 that you have to fill out anyway when you do your income taxes.