For questions relating to the US Social Security system, e.g. payments, benefits, FICA taxes, etc.

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3
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0answers
29 views

Help me apply Windfall Elimination Provision to my situation

I struggling to understand exactly how the Social Security's Windfall Elimination Provision applies to me in my situation (and thus what it specifically means for how long I should keep my part-time ...
1
vote
2answers
150 views

Take Social security at 65 or spend retirement savings

What is better? To retire at 65 1/2 and spend nothing but retirement savings until reaching age 70. At 70 take social security for both me and my wife and get the maximum benefit. I would spend ...
5
votes
1answer
55 views

Social Security Disability to Social Security

I am currently 62 1/2 yrs. old on SSDI and want to return to work. Can I apply for regular Social Security and return to work and not have to worry about losing my income.
-2
votes
3answers
3k views

Opting my child out of SS taxes? [duplicate]

If I have a child and elect not to get him a social security number, will he still be required to pay social security taxes? I am a U.S. citizen, as is he. I'm trying to weigh the cost of not ...
3
votes
1answer
73 views

Does the Social Security taxable wage cap also cap payouts, not just contributions?

I recently saw Bernie Sander's quote: Right now, Trump pays the same amount of money into Social Security as someone who makes $118,500 a year. Time for a change. Now this seems to be true. ...
4
votes
1answer
70 views

social security benefits when widow remarries

My mother is a widow in her 80s. She is planning to remarry. Her boyfriend is also in his 80s and collecting social security. What will happen to her social security benefits? (When my daughter asked ...
2
votes
0answers
46 views

Can I Claim Social Security If I Live Abroad? [duplicate]

Can I claim SS if I live abroad? Specifically in France or Germany. Does the answer depend on citizenship? I am both a US and UK citizen at the moment. I currently reside in California. I am ...
15
votes
2answers
3k views

what happens if you don't start collecting social security until you're 75?

My father recently turned 70 and distrusts banks somewhat. He doesn't feel he currently needs the extra income that social security would provide and that if he took the extra money now that that ...
10
votes
1answer
970 views

can you collect social security if you're over 70 and are employed?

My father is about to turn 70 and he's employed. He has the option to continue working but it's unclear to either of us if he'll be able to collect social security while he has his job?
4
votes
1answer
72 views

Can a non citizen who lives abroad but has paid SS tax for 40 quarters get the benefit?

I paid SS tax for 40 quarters when I was a permanent resident of US. Now I live abroad. Will I be eligible for getting social security benefits? Most likely the answer is no but why not ask? :-)
6
votes
1answer
146 views

Max out 15% tax bracket with IRA distribution for retired couple

We are a retired couple (71 and 75) in the U.S. and we would like to do a voluntary IRA distribution so that we are maximizing the 15% tax bracket. In other words, we want to increase our taxable ...
11
votes
1answer
693 views

Why might Social Security employee deductions from paycheck vary across pay periods?

What percentage of salary deducts for an employee's Social Security contribution? And why will there be a difference in % deducted? My salary statement for October and September 2015 has the same ...
9
votes
2answers
1k views

How is Social Security tax levied for people with incomes above the cutoff?

For tax year 2015, Social Security taxes are levied at a rate of 6.2% (for employed persons) on up to $118,500 of wages. Suppose I started a new job on Jan 1, 2015, earning a nice, round annual ...
11
votes
1answer
1k views

What happens to my Social Security benefits if I work less than 10 years in the U.S?

I'm a U.S citizen and have been working in the United States for about 5 years now. I'm planning on moving to Switzerland soon for a regular job (not self-employed). If I understand this properly, in ...
2
votes
0answers
14 views

HSA contribution with post-tax money [duplicate]

Are there any disadvantages to funding a HSA with post-tax dollars (taxable account) as opposed to pre-tax dollars (i.e. payroll deduction)? My understanding is that you can still use Form 8889 to ...
4
votes
1answer
125 views

How to maximize Social Security benefits when working spouse retires at 62 and other spouse are 67?

My wife is 5 years older than I, and while she has only worked sparingly in the last 13 years, she worked full time from about 1980 to 2002. I am not sure if she will ever work again as our youngest ...
6
votes
1answer
117 views

Social security credits shared between spouses where neither earned 40 credits

A husband and wife, neither of whom earned enough credits, want to combine their credits under one spouse's social security number in order to qualify for social security benefits. Is this possible?
5
votes
1answer
97 views

How to avoid U.S. FICA (S.S.)

I am a U.S. citizen and a citizen of another foreign country. I live abroad for many years in that 2nd country. I file a 1099 each year. I was wondering if there is a legal way to stop paying FICA on ...
2
votes
1answer
60 views

Do I repay Social Security Disability Insurance (SSDI) if I suddenly have income and assets

I have four chronic disabling diseases and have received Social Security Disability Insurance (SSDI) for 10 years. If I suddenly own a home and income property, must I repay social security? If so, ...
6
votes
1answer
453 views

What happens If I Overpay Social Security Taxes?

Resource: Maximum social security tax income level for 2015. I work four jobs and just noticed on the second one, they're deducting social security taxes. The first job I work pays 99% of the ...
3
votes
1answer
116 views

Can I keep my bank account and SSN after giving up permanent resident status?

If I were to abandon my permanent resident status in US, will I be able to keep and use my Wells Fargo bank account? Also what happens to my Social Security number?
14
votes
1answer
2k views

Is the Social Security retirement benefit calculation based on the last 40 quarters, or overall?

Are Social Security payouts based on the last 40 quarters, or overall earnings? That is: If the last 40 quarters of my working career are lower than these past 40 quarters worth, how does this affect ...
5
votes
1answer
309 views

How much total salary to allocate to defer $17,500 to 401(k)?

From my small business, I would like to contribute to my wife's retirement (which also reduces taxable income to the company). My question is about how much total salary should be allocated to her to ...
4
votes
2answers
90 views

Social Security contribution of a J1 visa holder leaving U.S. permanently?

I was a J1 visa holder (post-doc) in the US for 18 months and contributed to Social Security. Since I am not going back to the U.S. again, am I eligible to get the money back? Thanks and regards JMV
1
vote
0answers
111 views

IRS (USA) Form 843 - How much time you have to file?

While I was on F1 Visa, my employer witheld social security and medicare taxes for me in error, and has declined to process a refund. IRS has a form 843, which allows you to petition IRS for a refund ...
2
votes
1answer
113 views

Should I wait until I absolutely need the money to draw income from Social Security?

I started collection at age 62, but could pay it back. Sometimes I think I should put the money into one of my houses while I am able to do the work myself. I could take a loan from a 401k, but paying ...
5
votes
1answer
256 views

Are U.S. Social Security payroll contributions and state taxes deductible from taxable income for India?

I moved to USA during the financial year Apr 2014 - Mar 2015, in which I was resident in India for more than 182 days due to which my status is "resident" in India for the tax year concerned. I ...
2
votes
1answer
119 views

Social Security and Medicare deductions/payments

Three hopefully simple questions about social security and medicare payments that are being deducted from my paycheck - I haven't been able to find much information about this online. Are these ...
5
votes
1answer
656 views

Recovering over-contribution to Social Security between two employers?

My wife changed jobs mid-year 2014 and her new employer took over $6K in Social Security tax withheld. Her first employer withheld over $5K making it a total of $11,298.98 in Social Security tax ...
3
votes
1answer
329 views

For SSI, is “authorized user” status on a bank account the same as “ownership”?

My friend has added my name to one of his bank accounts so that I can use a debit card on that account to buy things for him and make payments for him. I am applying for SSI and need to declare ...
14
votes
4answers
828 views

I guess I'm American (by birth). I'm Canadian… my investment company is asking an impossible question. I don't have an SSN, what to do? Lie?

When I was born (1976) they did not automatically assign SSNs to kids (according to my mother). I guess that's not the case now. I only lived there for a few years and I gather I am a US citizen by ...
1
vote
1answer
146 views

Received SSDI income less than 15,000. Do I need to file income tax?

I live alone, and received less than $15,000 from SSDI. Do I need to file income tax?
8
votes
3answers
4k views

If I earn 40 credits and stop working, would I get full Social Security benefits at age 67?

If I meet my 40 credit requirement in my 30s, and then left the States permanently and work at another country (and pay taxes there, not to the US), would I receive the full benefits when I become ...
5
votes
1answer
158 views

Is the Social Security with disability option final?

My dad is planning on retiring and collecting Social Security, he just had quad bypass surgery. It looks like he has the option to take Social Security by invoking disability. These are his options: ...
8
votes
3answers
301 views

When someone retires is their Social Security check amount set forever?

My father is planning on retiring and both he and I are trying to make sense of the caveats of Social Security during retirement. My interpretation of the retirement benefit is that he will get about ...
1
vote
1answer
44 views

Do I pay taxes on my SSI benefits

I receive $705 per month on SSI and LTD $456 per month total for the year is $13800 do I have to file tax returns?
3
votes
1answer
119 views

A couple questions about Social Security benefits and making extra money

What is the limit I can make when it comes to working while on Social Security? If I get a prepaid debit card for the money I make, do I have to report my earnings? How do I go about doing this?
7
votes
1answer
210 views

Disabled, no-income except SS, on various programs that help…What if I receive a windfall?

I have a chronic, debilitating disease (MS). Barring a miracle cure, I am going to be on Social Security Disability the rest of my life. I’m 47, divorced, no children. I have a hobby that I enjoy and ...
7
votes
1answer
487 views

Exempt from US Social Security, too few credits for benefits

I am an employee of a US state government which does not participate in Social Security, so neither I nor my employer pay Social Security taxes. (My employer offers a defined-contribution plan ...
8
votes
3answers
5k views

What is the purpose of Social Security and Medicare deductions from my paycheck?

Sorry, this might be a basic question, but I'm having trouble understanding this, so would like to ask here. I've recently started a full-time position, and I notice that two things are being ...
6
votes
1answer
306 views

Is the Social Security delayed benefit increase in addition to COLA?

I understand that delaying taking social security from full retirement age (67, based on my birth year) until age 70 results in a 24% increase in the monthly benefit, or 8% per year. Is this amount ...
2
votes
1answer
335 views

How do we handle taxes a lump sum payments from a SSA-1099 backdated to 2011?

In 2011, I went on short term disability provided by my employer. In December 2012, I transitioned to Long Term Disability. I remained on Long Term Disability until November of 2012. The wages I ...
5
votes
2answers
857 views

How does the Social Security Wage Base apply to employers?

This is a hypothetical question, but let's say a person has two W-2 positions at two different companies, where they make $60,000/year each. The Social Security Wage Base for 2014 is $117,000. So the ...
5
votes
1answer
1k views

Federal Income Tax implications of Amazon Mechanical Turk

What are the federal tax implications of any money received through Amazon Mechanical Turk? Is this money categorized as income? What are the necessary rules for payment regarding social security and ...
3
votes
1answer
3k views

When do I pay taxes if I'm self employed?

This is my first time paying/filing for taxes. Starting April 2013, I started getting paid as a part time independent contractor. When I get paid, nothing is withheld. I have no idea when to pay ...
5
votes
1answer
3k views

I'm a non-U.S. citizen that paid Social Security tax. I'm leaving the country. Can I get my money back?

I am not a U.S. citizen and I am leaving the country in a few months. Can I get the money back that I paid for Social Security taxes, since I am not going to be retiring in the United States?
5
votes
1answer
9k views

Why did my last paycheck of the year have a big decrease in Social Security taxes taken out?

My last check from my employer this year shows a 60% decrease in the amount taken out by social security (FICA-OASDI). Net result is a larger take home amount. Does anyone know why that would ...
6
votes
1answer
1k views

How does Bill Me Later check a person's credit using DOB and Last four SSN digits?

Currently, I'm looking to open Bill Me Later account. I notice that it only asks Date of Birth and last 4 digits of SSN. According to this website, The first three digits are based on the state ...
3
votes
2answers
4k views

How to calculate Social Security benefits if retiring before the early Social Security age?

How can I calculate my Social Security if I retire before my early Social Security age? I tried to use the official website's calculator, but it required entering too much data, and the website ...
7
votes
1answer
259 views

Social security “bonus” for married retirees?

I passed this info on to my father who is much closer to the age where he may be able to take advantage of it, but I wondered if anyone could comment on the viability of the approach described in this ...