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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
When will they stop taking social security out of your check in 2014?
FICA tax or Social Security taxes are withheld from taxes at the rate of 6.2% of your gross income until your income reaches $113,700 for the tax year. You only pay this tax on the first $113700 of income for the year. Your medicare tax rate of 1.45% will be applied to all income your earned for the year, and it doesn't have a cap limit.
Can a person on ssi receive benefits for their child?
The child may be eligible for TANF (formerly AFDC) and Medicaid. The two of you may be eligible for SNAP (formerly food stamps).
What were the common assumptions and goals of the progressive movements?
It assumed that everyone wanted to have change and move forward. While people seemed all on board, some people wanted to stay with traditional values.
What are some benefits for children with disabilities?
The benefits of disabled children are is free medicaid and they also get other health care services like SCHIP (States Children's Health Insurance Program).
Can a wife draw on husbands Social Security if he died before age 62?
Not until she her self reaches age 60 unless she has children at home under age 18. There is always the possibilities she could draw Disability if unable to work. Some women get catch in what we call that danger gap of when their husband is older then them and dies. When he dies if she is not age 60 she gets nothing no matter what he was drawing if he was retired unless as stated about the children at home yet.
I guess thats why my insurance man when I was young it was important to have good life insurance to protect your wife in the event you died. I see what he means now when I see allot of ladies in their late 50's working hard jobs or flipping burgers just to make ends meet until they reach age 60 to draw on their spouse. Some really dont look to the future on this or save incase this happens for example a stay at home mom with no outside the home working experience and they have lived a really great life since he had an above average job. If they didnt save or have insurance on him then the world can cave in for a woman. Hope this helps in some way. The younger a person gets insurance the cheaper it is and course before something is detected medically by allot of young people dont think about tomorrow alone 30-40 years from now.
Do i pay federal income tax if I'm on social security disability?
It depends on how much your AGI is. Most people on disability only have that as their income so they pay no tax. If you also have a pension, there is a good likelihood that you will have to pay tax on it.
Is social security issuing checks late this month?
Have my social security check been direct deposit this month of May.
Social security-how much money is given to 65 years people?
If you are fairly young you won't be retiring at 65, but much older. It has all ready been moved up to 70 depending on when you were born. Social security has a really good website and I suggest you visit it.
Will your children receive social security disability benefits if their Father is disabled?
Yes. You and each qualified minor child will receive a separate check or direct deposit based on the number of months of back pay awarded multiplied by the monthly benefit amount. Your children's lump sum payments will be smaller than yours, but should be equal to each other unless one (or more) of your children was born during the settlement period. A child cannot receive back pay for any months awarded prior to his or her birth.
The Social Security Administration requires the representative payee to set up separate savings accounts for each child, showing the child as the owner of the account, to ensure the lump sum benefits are protected.
For more information, see Sources and Related Links, below.
Are the social security checks going to be send out and August?
Since SS checks are issued on Wednesday, and Aug 31, 2013 is on a Saturday, the answer, in the short run, is no.
However, the last batch of checks is issued on the third Wednesday of each month, which means that it is mathematically impossible to have a payout later than 28th of any month.
So, the answer will always be "No," regardless of month or year.
When do you no longer pay Social Security?
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.
Can you still receive your Social Security Disability if you move to Canada?
In most cases, people will not be able to receive social security disability if they move overseas. However, each case is different and there is no way to know until the Social Security Administration makes a decision.
Can alien resident over 65 receive social security from United States?
I just received an e-mail asking me to add my name to a list being sent to the President asking him not to give social security to illegal aliens. How can an illegal alien get social security? Wouldn't they have to prove they are a citizen?
Can you cash a past social security check of a deceased person?
No. The Social Security check is intended for that person only, and is not transferable. If the legal recipient is deceased, you're supposed to notify the Social Security Administration and return the check or follow whatever other instructions the representative gives you.
People who attempt to convert the deceased person's check for their own use may be charged with one or more felonies.
Why is the cost of the social security program expected to increase in the next decades?
Social Security will increase as people in the large "baby boomer" generation, born between 1945 and 1964, start to retire.
For people disabled in alcohol related collisions get paid through social security?
Yes, sad but true. But only if they are approved for social security payments. I believe that even those in jail are allowed to collect. I am going to check further but I think I am correct. Did you know that even the president etal are entitled to collect, and many do, once they reach the correct age.
Can you draw social security at 60 years old?
You can't draw unemployment if you are permanently retiring. To qualify for those benefits you have to be ready, able, willing, and actively seeking full time employment, which you don't do in retirement.
How much money has congress borrowed from social security?
Ha ha ha ha ha ha ha ha ha. Excuse me.
There effectively is no "social security fund." For most of the history of Social Security, more money has been coming in from FICA (social security taxes) than going out in disbursements. If you think the US government would let money entrusted to it by its citizens just sit around somewhere so that it would be therer have it in the future when the situation was reversed, then you don't know much about the US government.
Heck yes, they've borrowed from it. To the extent that there is a Social Security fund, it's composed of US Bonds, and at some point the US will have to start tapping into the general revenue fund to pay those back instead of using the revenue from FICA to supplement general revenue as they've always done. When this happens, most economists expect the Social Security program to crash and burn hard.
How much Social Security will you draw at age 62 if you are now 60?
Social Security Online has benefit calculators to help you estimate how much retirement income you may receive. Bear in mind that retiring at 62 will reduce the monthly amount to about 75% of the benefit you would receive at full retirement age.
For people born between 1943 and 1955, full retirement age is 66.
You can also call the Social Security Administration at 1-800-772-1213 between the hours of 7:00 am and 7:00 pm EST, and request that they send you a statement of projected retirement benefits.
See Sources and Related Links, below, to access the benefits calculator.
What part of my social security is untaxed?
Non-taxable means you don't have to pay tax on the benefits.
The formula for calculating how much of your Social Security benefits are non-taxable is extremely convoluted and involves re-calculating your taxes and adding back in certain non-taxable payments like municipal bond interest and depends on your marital status and filing status. Anywhere from 15% to 100% of your Social Security benefits can be non-taxable. If you really want the details, refer to the worksheet on page 27 of the Form 1040 instructions:
http://www.irs.gov/pub/irs-pdf/i1040.pdf
Can a felon receive social security?
A felon may receive SSDI benefits if he or she is not incarcerated for more than 30 days and has no outstanding 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 remains eligible for disability under SSA guidelines, payments resume after release. Payees are not entitled to back benefits for the time spent incarcerated.
Are the last 4 digits of your social security number enough to obtain a credit card?
No, because many people have the same last 4 digits of their Social Security Number, so the last 4 digits don't identify one particular person. The first 3 digits of your Social Security Number identify the region, state and city of where you applied for and received your Social Security card, and therefore (in the USA) all 9 digits would be necessary to identify any one person for a credit application.
