is social security pre taxed
When you work for wages, a total of 7.65% of those wages are paid into your Social Security and Medicare account; your employer matches that amount. But unlike an IRA or other retirement vehicle, these are not pre-tax dollars. You must pay income taxes on the funds that are set aside in your Social Security Trust fund for your retirement years. With other retirement plans, you defer the income taxes, and contributions to retirement plans are not included in taxable wages on your W2.