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Social Security

U.S. OASDI social insurance system funded by FICA payroll taxes and originally created by the Social Security Act of 1935

3,984 Questions

What is social benefits?

SocialBenefitsare how a communitybenefitsfrom a certain course of action.

What are the benefits of silastic catheters?

Recommended for short-term catheterization after surgery because they are known to decrease incidence of urethritis (inflammation of the urethra). For those allergic to latex products.

How will your retirement pension be affected by moving out of state?

The amount should not be affected at all. However, you might owe income taxes on your pension income to the State to which you are moving.

Where would one obtain complete security?

Complete security can be obtained in various websites such as VPNBook and DuckDuckGo which websites that provide software that are very appropriate in ensuring security in internet browsing as well as other purposes and the websites can also protect from remote intrusion and spyware.

Can you get a tax refund if you receive social security benefits?

Yes, if you have paid taxes, or had taxes withheld for that tax year, you may be entitled to a refund. If you have not paid taxes for the year in question, you will not receive a refund.

Does a person who is on social security have to file a tax return because of two thousand dollars in gambling winnings if they normally would not have to file a return?

It's impossible to say based on just the information you have given.

For a definitive answer see, Tables 1, 2, and 3 on pages 2. 3. and 4 of Publication 501:

http://www.irs.gov/pub/irs-pdf/p501.pdf

If they won the $2000 all at once, probably about $500 was withheld for taxes. Even if you are not REQUIRED to file, you will probably want to file in order to get a refund.

The rules for filing a state return will vary from state to state and may be different than the federal rules.

Can you collect survivors benefits from Social Security if you are under 60 years old?

Yes, under certain circumstances. A widow or widower who is disabled may collect survivors' benefits as early as age 50; however, the widow(er) must be at least 60 years old to collect survivors' retirement benefits. If the widow(er) has not yet reached full retirement age (65 for people born before 1943; 66 for people born between 1943 and 1954), the benefit will be reduced.

A spouse or divorced spouse of any age may collect survivors' benefits if caring for the deceased person's minor children who are under age 16.

Ex-spouses are also eligible for survivors' benefits, using the guidelines above, if the marriage lasted at least ten years.

Who approves a Social Security withholding increase?

Congress. The FICA tax rate hasn't changed in many years, but the ceiling on earned income is raised every few years to keep pace with inflation. In 2010 and 2011, an employee pays 6.2% of the first $106,800 of earned wages for Social Security, and 1.45% of all wages for Medicare Part A (hospitalization). The employer matches an equal amount from company funds, for a total contribution of approximately 15.3%.

I am permenatly disabled and on p ermenate disability,unable to go out to work for anyone.I would like to try for a college degree online,it will be a couple hrs a week when Iam up to doing it.Will I loose my social security disability check?

I am in the exact same situation that you are in. I am disabled and unable to work out of the house and refuse to accept that I cannot learn another skill. Because of this I have learned the ins and outs of Social Security Disability. At this time it is perfectly acceptable for you to go to school and try to learn a new skill. You do not need to report it unless you are attempting a schedule that would reflect a difference in your physical disability. For instance, if you were able to take classes for 30 to 40 hours a week they would determine that your medical status may have changed and require that you get another medical physical. If your classes are under 2 hours per day you will have no problems whatsoever. Currently persons on SS Disability can earn up to $900 additional income per month. Once you have finished your classes you should call your contact at your local Social Security Disability office and double check the amount because it is subject to change. Best wishes and good luck!

If your only income is social security but you took a loss selling your home do you file income tax?

Probably not, assuming it was your personal residence and not an investment or rental property and you never claimed a home office deduction.

But if you get a 1099-S for the sale of the home, you should file a return and list the sale on Schedule D and show your basis to inform the IRS whether you had a profit or a loss on the sale. (They don't know if you don't show them and will presume that 100% of the sale price was a profit unless you file Schedule D.)

If the house was a personal use property (you lived in the house), you cannot claim a capital loss.

If the house was not a personal use property, then you can claim a capital loss. Even though you might not have any income to offset this year, you should be able to carry over some or all of the loss and it might prove useful in the future. You need to file in order to claim the loss.

If you ever claimed depreciation (it was a rental property or you took the home office deduction), then you need to recapture the depreciation. You should file in that case.

Do the Virgin Islands receive a social security number?

If you are a U.S. citizen, you may receive your Social Security payments outside the United States as long as you are eligible for them.

However, there are certain countries to which we are not allowed to send payments.

Your question was not clear. I hope I answered it correctly. If not, please edit and resend the question.

In 2005 a person earning 200000 would have paid social secuity tax on?

For the 2005 the amount was

90,000 x 6.2% for the social security contribution amount of $5,580 that would been withheld by the employer from the employees wages in the year 2005.

What is social security payroll tax?

Payroll taxes generally fall into two categories: deductions from an employee's wages and taxes paid by the employer based on the employee's wages. The first kind are taxes that employers are required to withhold from employees' wages, also known as withholding tax, pay-as-you-earn tax(PAYE), or pay-as-you-go tax (PAYG) and often covering advance payment of income tax, social security contributions, and various insurances (e.g., unemployment and disability). The second kind is a tax that is paid from the employer's own funds and that is directly related to employing a worker. These can consist of fixed charges or be proportionally linked to an employee's pay. The charges paid by the employer usually cover the employer's funding of the social security system, and other insurance programs.

WHAT IS SSA 310 deposit?

Deposit for Social Security Disability payments..

Does the social security administration recognize marriages after 60 years old?

Generally speaking, the Social Security Administration will recognize a marriage at pretty much any age, even after age 60. But it must, of course, be a legally allowable marriage. However, keep in mind that when it comes to collecting widow or widower benefits from the earnings record of a deceased spouse, you must be unmarried prior to turning age 60. Thus, if your spouse dies and you re-marry before your 60th birthday, you cannot collect widow or widower benefits. But after you turn age 60 you can re-marry and still collect widow or widower benefits from your deceased spouse's record.

IS SOCIAL SECURITY DISABILITY SEPARATE PROPERTY IN A DIVORCE IN TEXAS?

Social Security benefits for a disability are awarded to the individual. There are not real or personal property and are not subject to community property laws.

When was the law of a 10 year vested company pension introduced?

The law of a 10 year vested company pension or the Employee Retirement Income Security Act was introduced in 1974.

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