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Answered 2009-02-23 18:55:18

Yes, there is a limit as to how much you may earn, but the disability is based upon your inability to earn at your previous level.

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You should be able to. If you are working past retirement age and paying in to state disability you should be able to collect up to 12 months. State disability is different then federal social security. If you are paying in and its within the 12 months you should be eligible to collect on what you paid for, it is insurance.

I assume you are talking about Social Security disability. No, there is nothing special about paying estimated taxes that would make you qualify for those benefits. You need to have work credit in an occupation that is covered by Social Security to earn credits.

collecting banker defination,functions of a collecting banker

The auto insurance settlement wouldn't be taxable unless you realize a gain from it. Being on Social Security Disability doesn't exempt you from paying any taxes that may be due as a result.

Yes, you just can't have too much equity in it, not an issue if financed. if you are paying cash, don't get one too valuble in your name only. If financing, your issue will be meeting income requirement with that alone, even if you can meet the payment

Being on disability does not exempt you from paying taxes.

When a check is written on a bank account, the banker at that particular bank is the paying banker. They are responsible for paying the check when a customer presents it for payment. A collecting banker collects the checks for his customers from a paying banker.

When you stop earning income subject to the Social Security tax. There is no age limit on SS tax. You pay SS tax even if you are collecting SS if you are earning income subject to the tax.

The normal method of paying taxes is to mail a check to the address of the tax collecting agency. Don't forget to include your social security number.

It depends on how much you've earned working a public job and paying into social security. I don't think there is a set amount. But, don't expect to get rich.

When you have one employer the amount of FICA ((OASDI) Old Age Survivor and Disability Insurance) for your social security would stop once your wages with the withheld social security amount reach 106800 and social security amount withheld would be 6621.60

Penalties, fines, not receiving benefits (like social security, retirement, health & disability, etc) and of course, criminal record which may include jail time.

Franklin Roosevelt was the President when social security taxes were first collected. The money collected for social security was always spent as soon as it was collected. This was not a problem so long as the number of people paying in increased faster than the number of people collecting benefits.

None. I would suggest paying it because not paying it can become a federal felony.

The IRS seems to be happy as long as they get their money. Lots of people have retired and started collecting Social Security while paying back taxes. I have no idea how it works, but I know people who have done it.

"Yes as long as you have earned income from working and are still breathing you will continue to have to pay your self employment taxes on your net profit from your business operation." OK, so I will keep paying self employment tax when collecting full benefits ( I am 66). That is what I figured, but will my monthly SS payment increase since I am still paying into the system? Thanks.

A collecting banker's protection consists of the check he collected is a crossed check, he collected the check only as an agent, and he collected it in good faith. For a paying banker, his protection is that the signature is verified and the check is genuine.

i started drawing social security in2007

No, if you received a modification to the benefit check amount, that's all that's owed. see link

It is unclear what you are asking, but I will do my best. If you are asking whether you can buy a car with your disability payments (from a private insurer, Social Security Disability, or otherwise), yes. Keep in mind, though that that may leave you short for other needs, but it is business decision for you to make. The payer of the disability benefits has no obligation to buy a car for you under ordinary circumstances. It would be the very odd situation that would require a disability payer to do so. Nonetheless, a private insurer may consider doing so as a means of facilitating your return to work and thereby no longer qualifying for disability. In the long run, it may be cheaper for it to go "out of policy" and do this, than paying benefits for a very long time. The contract controls what you can collect under a private policy; statutes control what you can collect under public sources of disability, such as Social Security Disability.

You can get the answers at Their answer is that your disability benefits might be taxable IF you, or you and your spouse if filing jointly, have enough income to require paying taxes.

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