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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
Did social security provide insurance programs for the unemployed?
NO. The unemployment compensation program is NOT a part of the social security and medicare insurance program.
How much will social security take out of your check for medicare?
The specific amount withheld should be shown on your payment stub or direct deposit receipt, and is labeled FICA.
A total of 7.65% of your pre-tax income (6.2% for Social Security and 1.45% for Medicare Hospital benefits) is withheld from each paycheck until you reach the current earnings cap of $106,800. There is no earnings cap for the 1.45% Medicare Hospitalization contribution, so that continues to be withheld regardless of your income.
Your employer pays a matching amount from company funds, bringing the total contribution on your behalf to 15.3% of the first $106,800 of salary.
If you earn less than the maximum, you can easily calculate your total annual contribution by multilplying your base salary x .0765.
For example:
A person who earns $35,000 in 2010 will contribute $2,677.50 toward future retirement benefits, and his or her company would match that contribution for a total of $5,355.
How much income can a SSDI recipient earn?
If you work while you are collecting disability benefits, special rules apply: Trial work period - you can work up to 9 months in any five year period and continue to collect disability benefits. There is no cap on your earnings during the 9 month trial work period. If you earn more than $640 in a month in 2007, that month counts as a trial work period month. In 2006, the trial work period trigger was $620. After you have used up your nine months you can earn up to the following without jeopardizing your benefits: 2007 - $900 per month
2006 - $860 per month If you earn more than the above limits for a particular month, you will be asked to repay Social Security for any disability benefits received during that month. SSA will literally review your earnings month by month - if you exceed the limit for a particular month, you will have to pay it back. In addition, if your earnings record shows a pattern of work, SSA will likely review your case to determine whether benefits should be stopped. Note that special rules apply for blind disability claimants.
What can you do with someones social security number?
Open a credit account, steal their identity, keep your social security number as
safe as you can.
What are the benefits of vermiculture?
The return to the soil of what's taken away is why vermicomposting helps in the conservation of the environment. Vermicomposting describes the use of worms to break down certain materials such as shredded paper and kitchen scraps. The materials pass through the worms' bodies. They're eliminated as nutrient rich droppings, which become part of the soil.
The organic content of droppings encourages the passage of air and water through soil. So soil ends up being a better environment for the critters of the soil food web and for plants. It likewise ends up being less likely to compact and erode. So the resources within the soil are put to best use instead of becoming inaccessible through compaction or erosion.
Is social security disability benefits free of federal taxation?
The SSB would ONLY be free of federal income tax when you do NOT have any other worldwide income to be reported on your 1040 income tax return.
If you received Social Security benefits in 2009, you need to know whether or not these benefits are taxable. Here are seven facts the Internal Revenue Service wants you to know about Social Security benefits so you can determine whether or not they are taxable to you. How much -- if any -- of your Social Security benefits are taxable depends on your total income and marital status.
Generally, if Social Security benefits were your only income for 2009, your benefits are not taxable and you probably do not need to file a federal income tax return.
If you received income from other sources, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status.
Your taxable benefits and modified adjusted gross income are figured on a worksheet in the Form 1040A or Form 1040 Instruction booklet.
You can do the following quick computation to determine whether some of your benefits may be taxable:
*.First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income.
*.Then, compare this total to the base amount for your filing status, if the total is more than your base amount, then some of your benefits may be taxable. From 50% to 85% of your SSB can become taxable income on your 1040 income tax return and would be added to all of your other gross income and taxed at your marginal tax rate.
For additional information on the taxability of Social Security benefits, Go to the IRS.gov web site and use the search box for IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits.
What form listed the amount of social security taxes that were paid during the year?
The W-2 wage and tax statement that the employer is required to send to the taxpayer before the end of January of the next year after the tax year.
Box 4 is Social Security tax withheld, and Box 6is Medicare tax withheld.
Yes, most Target stores accept EBT but not all of them.
What are the benefits of cooperating with people?
Cooperation is the basis of life. If you don't think about it, it doesn't seem like much. Just think about your food, for example. You go to the store to buy a tomato. What if the farmer decided he didn't want to sell tomatoes anymore, or the store decides not to buy them. Both ways each side can be affected and you don't get your tomato. Before people learned to cooperate, it was every man for himself. All anyone could do was hunt for their own food all day. No one could learn how plants grow without depending on someone else to get them food. Without cooperation, people never would have learned to farm, build civilizations, or become educated. In the modern world you have to be able to depend that people will take care of the things you don't have time to do. In business there needs to be someone who is willing to take care of finances, someone to determine what resources are needed, someone to decide which goals to go for, etc. Without cooperation we could easily fall back to the beginning, but without the knowledge or resources for everyone to survive.
What is the penalty for using someone else's social security number for employment purposes?
You would need to immediately inform the police and the social security office. This person can seriously complicate you life. You may end up being liable for debts and taxes that are not your fault.
Is there a limit on income after full retirement age?
At age 65 which is no longer the benchmark retirement age, you are subject to the earnings test until you reach the year of your normal retirement or full retirement age.
For 2010 the amount would be 14,160.
The earnings limit for workers who are younger than "full" retirement age (age 66 for people born in 1943 through 1954) will remain $14,160. (We deduct $1 from benefits for each $2 earned over $14,160.) The earnings limit for people turning 66 in 2010 still will be $37,680. (We deduct $1 from benefits for each $3 earned over $37,680 until the month the worker turns age 66.) There is no limit on earnings for workers who are "full" retirement age or older for the entire year.
You can find the above information and more by clicking the below related link for Social Security On Line.
When is full retirement age when born in 1962?
Your full retirement age is 67. You can start collecting benefits at age 62, but you will receive only 70% of your full retirement amount. The longer you wait, the more you will receive. This holds true even if you wait until after you are 67; you will receive more than 100% of your full retirement age benefit..
the stock market crash which led older men and or women to lose their jobs, it was fdr's proposal to start the ssa as a part of his new deal.
How much is social security payments going up per month?
See link. I believe page 9 has some of what your looking for. http://www.ssa.gov/budget/2008bud.pdf
When was Social Security Administration created?
The U.S. Social Security Administration was founded on August, 14, 1935. It was created to administer social security founds for retirement, disability, and survivors' benefits. It is located in Woodlawn, Maryland.
Does Social Security disability income count as income for medicaid?
Social Security benefits (retirement and disability) count as income for Medicaid. However, Supplemental Security Income (SSI) does not count as income for Medicaid.
Can a person collect on their domestic partner's Social Security if they were together eleven years?
No, a domestic partner is not eligible for Social Security survivor benefits. Only a legally married, opposite-sex spouse may collect such benefits, although under certain conditions a divorced spouse may also collect.
How much is taken out of retiree social security check by government for medicare etc?
Part A premiumMost people don't pay a monthly premium for Part A (sometimes called "premium-free Part A"). If you buy Part A, you'll pay up to $413 each month. If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $413. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $227.
Is there a certain amount of money a person can have in the bank if on Social Security disability?
No. Social Security Disability (SSDI) is a form of government-administered insurance that you and/or a spouse paid into through FICA taxes when working, and is not means-tested. You are not penalized for having unearned income, assets, or wages from other household members. Supplemental Security Income (SSI), which many people confuse with SSDI, is a form of welfare available only to disabled (or retired over age 65) people with limited income and assets.
What is the maximum tax withheld for social security?
Social security contributions continue each working year, and do not stop at some lifetime limit.
For example, the lifetime accumulated maximum someone has paid if working since 1963 would be $123K. That would require the person makes at least the maximum taxed income each year, which was $109,000 for 2009.
Source documentation may be found at http://www.ssa.gov/history/pdf/t2a3.pdf
Can you collect rental income and Social Security Disability?
No you cannot. You either receive one or the other. If you are eligible for SSD prior to turning age 60 and remain on SSD for 2 years or more you basically would receive in disability what you would have received at your full benefit retirement age of 66. If you stay on SSD and reach age 62 or up to age 66 and you want to convert from SSD to SSR your payment will be decreased by approximately 1/2 of 1% for each month you start taking benefits prior to age 66.
Social security numbers numeric values therefore social security is an example of?
Since social security numbers have numeric values, a social security number is an example of a qualitative variable.
How does social security determine a disability amount?
you have to go to a doctor first and get a report from him saying you are. then they set up a hearing for you.get a lawyer.
Would you capitalize social security benefits?
yes you would capatalize Social Security in a sentence.
