Yes it can happen that from 50% to 85% of your SSB can become taxable income on your 1040 income tax return.
No, for the majority of people, SS disability is not taxable. This goes for people who have additional income with disability, and for those who do not.
Maybe. Disability payments can considered tobe partially or fully taxable income.
No, for the majority of people, SS disability is not taxable. This goes for people who have additional income with disability, and for those who do not.
Not if you were paying for your own policy yourself. Tax free benefit. 4lifeguildMaybe. Disability payments can considered tobe partially or fully taxable income.
If your disability payments are through the VA then they are tax free and are not considered taxable income.
Depends on the type of disability payments you receive. I do not have to pay taxes on my military disability, it is tax free.
Generally settlements are not taxable. Some insurance payments are taxable in certain circumstances. Disability payments received on a policy that the premiums were completely paid for by your employer would be taxed as ordinary income.
You should consult with a tax specialist, but generally employer paid disability insurance benefits are taxable.
Is VA Disability income exempt from bankruptcy income claim?
I understand you are trying to make it sound better for your side but you really need to give me just the facts to get a correct answer. I assume that you are asking if your disability or unemployment payments are taxable or not. The easiest answer is that if you received a form for this income, it must be filed on your return. All unemployment payments are taxable. On disability payments made from a private insurance company, of the premiums are paid by your employer or if you pay the premiums with pre-tax money the amount received are taxable. If you paid the premium yourself with after tax dollars they are not taxable.
Your VA Disability check is NOT taxable. VA Disability is a compensation NOT earned income.
Workers comp payments (whether a settlement or not) are generally not taxable. However, if the payment causes your Social Security benefits to be reduced, the part of the benefit that reduces your SS payment will be treated as if it were an SS payment.