It is a federal tax to support the Social Security old age and survivors benefits and the Social Security Disability Income benefits.
yes
No you do not.
Paying for social security helps support the program for others who do benefit from it, and you may receive benefits in the future.
In general, Social Security benefits are protected from being garnished or attached by creditors. However, there are some exceptions, such as for outstanding federal debts, child support, and alimony. State laws may vary on the extent to which Social Security benefits can be garnished.
yes
Yes, if there is a valid court order for child support and/or child support arrearages.
The benefits of receiving Social Security include financial support for retirement, disability, and survivors. Eligibility requirements for Social Security benefits typically include having a certain number of work credits and reaching a specific age, such as 62 for retirement benefits.
If you don't pay into Social Security, you may not be eligible to receive benefits when you retire or if you become disabled. It is important to contribute to Social Security to ensure financial support in the future.
Sometimes, people are surprised to find out that their social security benefits are taxable. For the person who may only make $30,000 a year and receive social security benefits, getting taxed on these benefits can be a huge burden. To avoid any unfortunate surprises, some tax planning is required on the part of an individual. You can prepare for any taxes on social security benefits by having a portion of your social security benefits withheld from a paycheck. There are different amounts of money you may choose to have withheld from a paycheck. You may choose to have anywhere between 7% to 25% of your benefits withheld.
Go to your social security department and ask about your benefits for 2014 . The Social Security Statement provides information about your earnings history and estimates of your Social Security benefits.
Social Security Disability benefits are protected from most types of garnishment, except for certain circumstances like child support or alimony. Pension benefits are generally protected from garnishment, but can be subject to garnishment for specific reasons, such as unpaid taxes or child support.