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

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4
votes
1answer
151 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
2answers
32 views

Excess Social Security Witholdings

After a generous hour meeting with a CPA gratis, we ran out of time, but I still had a few questions. I have a full time job and have been doing some contracting work nights and weekends. Full-time ...
13
votes
5answers
22k views

Is it normal to have 28.5% of various income taxes deducted from my paycheck?

I just got out of college, still live with the parents (saving up money) been employed for a year in the industry, and got a not bad starting salary. First check I received was shocking, to see 28.5% ...
1
vote
1answer
240 views

What to do with $20,000 at 65 years old?

I just turned 65 and have 20K from a house flip. I got the money when I cashed in a 25K job savings account 401(k). I paid about 5K in penalties to cash it in. I'm drawing social security but plan on ...
2
votes
2answers
228 views

H1 B visa social security refund

Is there any change in the policy of the US Govt that will enable H1 B visa holders from India who have returned home after working six years on the H1B visa a refund of the social security taxes they ...
1
vote
1answer
121 views

How can I link my Social Security Number to my online account in Bank of America?

It is about a year I am in the U.S. and have an account at Bank of America. I also have a travel reward credit card, but when I wanted to get my credit report from Credit Karma, I was told they could ...
5
votes
3answers
715 views

What accounts for the “average” FICA payroll tax paid not being close to its 15.3% theoretical maximum?

This is a question regarding the social insurance tax in the U.S. The effective payroll tax cited by the Congressional Budget Office as well as the Tax Policy Center is lower than I would expect for ...
3
votes
0answers
41 views

Income tax on children's social security income

How do you declare in the tax return the social security benefits of minor children? In our case, the social security administration deposits the checks every month in a bank account that is on my ...
1
vote
0answers
52 views

What happens to debt to SSA after death?

A woman in another country was married to her late husband. She notified about his death right away but SSA kept sending money from his Social Security benefits. She thought that everything was in ...
6
votes
2answers
353 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 ...
-1
votes
1answer
37 views

Continue contributing to pension vs waiving FICA

This is my first post! I have a little dilemma I have to decide whether I want to continue stop contributing to my city pension with the benefit that I will be able to waive FICA. Let me give some ...
3
votes
1answer
57 views

How do spousal social security benefits for a non-working spouse get calculated?

I have been reading this page on the ssa.gov website which seems hopelessly useless. The situation I am curious about is: 1 spouse does not work enough to accumulate 40 SS quarters The other spouse ...
-1
votes
1answer
98 views

If I had no income due to a net operating loss, will I be refunded the Social Security and Medicare taxes withheld?

I spoke to a CPA about my 2015 tax situation. I had a job in 2015, but I also had stock trading losses that exceeded the salary that I received from the job. The CPA said that I traded enough that ...
3
votes
1answer
448 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 ...
3
votes
0answers
62 views

Divorce and Social Sec, Pension, and 401K

I am 65 while my spouse is 52. My spouse has been the sole breadwinner of the family and we've been married for 25 years If we were to get a divorce, can I start collecting now on my spouse's Social ...
0
votes
1answer
628 views

Motley fool says you can make $15,978 more per year with Social Security. Is this for real?

The Motley fool has an ad campaign that says you can make $15,978 more per year on Social Security by doing 17 minutes of work using a legal loophole. I don't want to link to their ad (although, you ...
1
vote
2answers
228 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 $...
3
votes
0answers
42 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 ...
5
votes
1answer
63 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
80 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. ...
8
votes
3answers
12k 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 ...
4
votes
1answer
75 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
50 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 ...
16
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
984 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
105 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
157 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 ...
15
votes
4answers
20k views

How do I opt-out of the Social Security system?

How do I opt-out of the Social Security system and give up my Social Security Number? If I do this, am I then exempt from paying Social Security income tax?
5
votes
1answer
4k 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?
11
votes
1answer
727 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 ...
4
votes
1answer
152 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 ...
11
votes
1answer
2k 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
16 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 ...
6
votes
1answer
148 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
159 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 ...
6
votes
1answer
350 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
62 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
977 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
149 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?
7
votes
1answer
576 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 ...
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
317 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 ...
1
vote
0answers
190 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
120 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 ...
2
votes
1answer
133 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
745 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 ...
14
votes
4answers
969 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
176 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?