Social Security taxes are paid into the Social Security Trust Fund maintained by the U.S. Treasury (technically, the Federal Old-Age and Survivors Insurance Trust Fund, as established by 42 U.S.C. Â§ 401(a)). Current year expenses are paid from current Social Security tax revenues.
If you're an employee and don't get reimbursed, you can write off mileage as an employee expense if you itemize deductions. The IRS sets limits on what you can claim: driving from your dorm room to your workplace isn't deductible mileage, for instance.
You can write off mileage to another area if you took the trip primarily to find a job in the same field in which you're working. Your mileage from one potential employer to another within the area qualifies, even if your trip into the area doesn't. The IRS allows you a deduction at 56 cents per mile in 2014, Job-search mileage and other miscellaneous expenses are deductible only to the extent they are above 2 percent of your adjusted gross income. On the Move