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How are social security retirement benefits paid for?
taxes on employers and employees.
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Can you receive Social Security disability benefits and Social Security retirement benefits at the same time?
No. You can only receive Social Security disability benefits if you are below full retirement age and meet SSA disability severity guidelines. Once you reach retirement age (6…5 for people born before 1943; 66 for those born in 1943-1954; gradually increasing to 67 for those born in 1960 and later), your disability benefits automatically convert to retirement benefits at the same base rate.
Yes: If the ex-husband is currently collecting and they have been married for at least 10 years prior to the divorce. Also, if the husband has not yet filed a claim, the ex-wi…fe may collect if they were married for at least 10 years prior to the divorce and has been finally divorced for 2 years.
Can you receive Social Security benefits when you retire if you already receive veteran disability benefits?
Yes, if you have the right number of quarters in and are at least 65 or blind or disables.
If you're talking about retirement benefits, you should receive your first check or deposit in the month following your first month of eligibility; benefits are always paid in… arrears. If you're talking about disability benefits, there is a five month waiting period, so you should receive your first check or deposit in the sixth month after the date disability was approved. Benefits are paid according to the birth date of the person whose earning record is being used to issue payment: 1st - 10th.....................second Wednesday of month 11th - 20th...................third Wednesday of month 21st - 31st....................fourth Wednesday of month SSDI + SSI...................third day of month Approved prior to 1997...third day of month SSI only........................first day of month If the regularly scheduled payment falls on a holiday, the benefit will be issued one business day prior to the usual date.
If you are retired and Social Security benefits are your only source of income, you will need to file, but generally will not be taxed. If you received income from sources oth…er than Social Security, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status. For a single taxpayer the base amount (cap) is $25,000.If your total AGI is $25-34,000, you will pay tax on 50% of your Social Security benefitsIf your total AGI is above $34,000, you will pay tax on 85% of your benefits For married couples filing jointly, the base amount is $32,000If your total AGI is $32-$44,000, you will pay tax on 50% of your Social Security benefitsIf your total AGI is above $44,000, you will pay tax on 85% of your benefits
An otherwise eligible convicted felon may receive Social Security disability or retirement benefits when he or she is not incarcerated for more than 30 days and has no outstan…ding warrants. Social Security will not pay cash benefits to anyone living in a prison, jail, nursing home or other tax-supported facility; however, if the person is eligible for retirement benefits under SSA guidelines, he or she may receive them after release. Payees are not entitled to back benefits for the time spent incarcerated. Yes, yes they can.
No. Only earned income is counted toward the $14,160 annual cap and still allow you to receive full benefits between the ages of 62 and the year in which you achieve the full …retirement age of 66. The earning cap increases to $37,680 in January of the year you turn 66, and is lifted completely the month of your birthday. Afterward, there is no earned-income limit. Pension checks, 401k payouts, annuities, capital gains, and other investments are not counted toward the income limit at any time.
Yes you can choose to receive your monthly social security check in the mail if that is really what you want to do.
Yes, you can collect from them both at the same time, as long as you qualified for each of them.
You can receive social security benfits at the age of 65 or if you were born after 1959, 67. This is said to possibly increase with the increasing number of older individuals …in our country and the dwindling number of younger individuals putting money into social security.
You have to be someone that is at least 62.
Social Security retirement benefits became taxable during the Carter administration at the same time Unemployment benefits were made taxable (also under the Carter admin…istration).
yes. as long as you contribute into the plan, anyone regardless of his/her immigration status is entitled to receive the benefit for which has contributed.
I was getting partial retirement benefit since 2010, but I did not get paid in 2011 from Sept 2011 to December 2011, they paid me 769. in the month of Jan 2012 after that they… I am getting any payment since Feb 2012 till Dec. 2012, I am suppose to get 935. per month, they said I owed 10,560. if you calculate 935. time 11 month total will be 10,285. it means I paid 10,285. if you add one more month the total will be 11,220.00 they should start to pay me Feb 2013 935. per month, but they said I owed more money, and they will start payment from July 2013 I am not agree with this unfair business,please help me to resolve this problem ASAP.
You can start getting your benefits as early as age 62. That may not be a good idea, however, as they are adjusted for age. So you will get less money than if you can hold out… later.
Maximum Social Security Benefit 2007Social Security incomeSocial Security is based on a sliding scale depending on your income, how long you work and at what age you retire. S…ocial Security benefits can automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes that you have only one working spouse. Benefits could be different if your spouse worked and earned a benefit higher than one half of your benefit. If you are a married couple, and both spouses work, you may need to run the calculation twice - once for each spouse and their respective income. This calculator provides only an estimate of your benefits. The calculations use the 2007 FICA income limit of $97,500 with an annual maximum Social Security benefit of $25,392 per year for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security.
If you are under full retirement age for the entire year, they deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2016, that limit is $…15,720 .