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Questions tagged [social-security]

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

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1answer
89 views

Social Security disability 10 year rule

I am 62 years old and have worked all my life. In 2007 I started teaching high school to give back to my community. Now I discover that since I have worked for a school district and made no Social ...
4
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1answer
103 views

Double dipping Medicare payments

I am 78 years old. I collect Social Security, and am on Medicare, and also work part time paying SS and Medicare premiums. Since Medicare is being deducted from my SS every month, can I get refunded ...
0
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1answer
52 views

Downside to W2 with base salary and allowance?

This is simply an example, so please bear with me. ExxonMobil (headquartered in TX) offers me a software development position as a W2 employee, with my total compensation being $5,000/month. They ...
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0answers
37 views

Home improvement loan for dependent support worksheet

My mom had to finance HVAC replacement in a condo we purchased together, but she is the permanent resident, as I live in another state. She receives SSD payments. For the dependency support worksheet,...
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1answer
134 views

Social Security Insolvency?

I was perusing the Analysis of the 2018 Social Security Trustees’ Report. This report claims "that the Social Security program faces a large and growing funding imbalance that must be addressed ...
5
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1answer
178 views

Are US citizens required to have a US bank account to receive Social Security while living abroad?

My daughter and I are US citizens and we reside in Moscow, RF. My former wife and the mother of my daughter died recently. She was a US citizen and was living in the USA. Due to her mother's loss, my ...
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2answers
146 views

Effect of Reportable Hobby Income on Social Security Benefits

I am basically early-retired and well under 62 years old, and I do make passive income from investments (probably not relevant to this question). I am considering doing something I like to do and ...
4
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1answer
217 views

SSI in USA: Will SSA demand repayment if recipient is sentenced to “time already served”?

Eve intends to plead guilty to a criminal charge.  Eve has a child Bob. Alice has guardianship of Bob and also management of Eve's income which includes Supplemental Security Income (SSI). SSI will ...
6
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1answer
175 views

Retirement after reaching 40 credits, non-us citizen

I am a green card holder and I have been working for a US company since January 2011. I am 52 years old and I plan to stop working when I reach 40 credits at the age of 55 in July of 2021. I do ...
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3answers
180 views

Social Security for surviving spouse

Let us assume both husband and wife are qualified to get Social Security benefits. One may be larger than the other. For example, husband is 61, and wife is 60. If husband dies suddenly, then what ...
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0answers
34 views

Latvian Social Security Contributions on Equity based Capital Gains

Per LIAA Taxation, SSC contributions are made per gross salary of an employee by both the employee and the employer. SOCIAL SECURITY CONTRIBUTIONS (SOCIAL TAX) The employer deducts 10.5 % from ...
2
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1answer
102 views

When I'll receive social security

I am Canadian and have worked in USA from Jun 2000 - Dec 2006. I have paid all the taxes, Can I get back my social security which I paid during my stay in USA?
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1answer
221 views

Social Security/Medicare tax withheld on TN visa

For reference, I worked for 4 months at an internship in Massachusetts in the summer of 2016. I'm a Canadian citizen/resident, and don't pass the substantial presence test for 2016. Is there anywhere ...
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2answers
194 views

Social Security Disability program: What happens when the disabled go back to work?

The United States recently received some rather good news about our Disability Income program, reversing a significant drain on the economy: About 1.5 million Americans applied for disability ...
3
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2answers
153 views

How are Social Security Benefits adjusted after early retirement, when collection is delayed to 70?

After trying multiple calculators, from ssa.gov (https://www.ssa.gov/benefits/retirement/estimator.html) and others (for example https://www.aarp.org/work/social-security/social-security-benefits-...
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0answers
73 views

As a US Citizen can I open a Canadian bank account without my social security number?

As I stated in the title: will I need to provide my Social Security Number if I choose to open a bank in Canada as a US Citizen?
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1answer
80 views

social security (disability) dependent benefits - what is the reason for asking about a bank account?

My wife is currently drawing Social Security Disability benefits. We have one child still in school. Our private disability insurance requires us to apply for dependent benefits on his behalf. We ...
2
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2answers
120 views

Social security early benefits

Can husband 61 take early retirement and wife also 61 wait until 70 to take her full retirement if she worked her whole life too.
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0answers
152 views

What happens to my U.S. Social Security and pension if I retire in Germany?

If I retire in Germany, can I receive my U.S. Social Security and pension there, and will it be taxed?
3
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1answer
556 views

How much is not contributing to Social Security hurting our early retirement goal?

We're a late 47 yr old childless couple, hoping to maybe early retire, and currently our main "day jobs" paychecks don't contribute to Social Security. But we will also not get pensions from these ...
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6answers
4k views

Why Is Social Security Excluded From Retirement Savings Formulas?

I've spoken with several financial planners who recommend saving at least 15% of income for retirement (media example and this site has an example). They do not include social security, which takes ...
3
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1answer
72 views

What is the benefits threshold for social security tax

I am a foreigner working in NY and will be leaving in few month. I would like to know if I can get refund for the social security tax because I can't enjoy it. I see the answer was "No, you cannot. ...
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1answer
1k views

How do I apply for a no interest loan from Social Security Admin?

Does anyone have info where to look/apply for the no interest loan Social Security talks about? I cannot seem to navigate thru the directions to actually find application form and where and when to ...
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0answers
158 views

FICA not withheld by company, filing as Resident Alien. Can I file before FICA taxes are paid?

My company did not withhold FICA taxes from my paycheck on the assumption I am exempt as I am on F1-visa (OPT). However, while filing taxes I realized I fail the substantial presence test, and am a ...
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0answers
142 views

Motley Fool / Social Security [duplicate]

I am curious if the advice from Motley Fool about social security benefits is worth the price of a subscription? I am nearing retirement age and trying to educate myself to be prepared and I ran ...
5
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1answer
157 views

Do I need a Social Security Number?

I am a New Zealand citizen, and legal resident of Mexico (not the US - I have only B1/B2 visa for the US). I have funds in the US in an American bank account (in my name). Recently I have considered ...
25
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3answers
5k views

Can I buy Social Security credits?

I have 39 credits and no longer work in the US. (Gave up resident card after 10 years in the US). Retired in Norway. Is there any way I could buy the last credit point I need?
6
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1answer
1k views

Do I need to pay medicare/social security as full-time employee but with a business on the side of which I'm the sole owner/employee?

I'm working full-time for a company, but I also have my own mobile app business on the side. Do all the regular self-employment rules apply to me? I'd like to take the money I make from my side ...
5
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2answers
287 views

Do I have to pay Medicare and Social Security taxes if I just have a work permit and not yet a green card?

I applied for a Green Card late July 2017. I just received my work permit few weeks ago. During this time where I am in between status am I exempt from Social Security and Medicare taxes? When I had ...
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2answers
114 views

will it make a difference in the social security payment between taking at age 67 and 68

I am turning 68 in January . Should I wait to apply for my Social security payments. How is the payment calculated .will it increase if I don't apply now?
6
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1answer
126 views

Social Security widower retroactivity

I'm trying to help my dad get his Social Security retirement stuff figured out. He waited until a couple months before he was 62 and found out that he could have been getting widower's benefits since ...
1
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1answer
232 views

Am I exempt from taxes if I work for a college?

I work at an accredited community college. I ask this because my paycheck, along with several other colleagues, had 0 withholdings for state, federal, and ssn. I was told that we get tax breaks ...
5
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2answers
119 views

When I withdraw SS vs when I retire

If I stop working at age 65, can I wait to age 70 to accept SS (living off of my own retirement accounts and younger spouse's income) for those 5 years?
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3answers
567 views

Can I retire after 10 years of work?

According to this site after 10 years of work I will have enough credit to retire. But what does it mean in reality? How can one just retire after 10 years of work and be eligible for social ...
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1answer
2k views

Can I open a personal bank account with an EIN instead of SSN?

Can an individual open a personal (non-business) checking or savings account using an EIN instead of their SSN? If so, what are the advantages or disadvantages of doing so?
2
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1answer
101 views

Can increasing my tax withholding from my full-time job cover FICA taxes for my freelance work?

According to this article, instead of making quarterly estimated tax payments for freelance work I do on the side, it may be possible to simply increase my tax withholding at my full-time job. I ...
0
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1answer
156 views

I need advice on how to get out of default on college student loans [closed]

Well, this is not very specific, but I need advice on how to get out of default on college student loans. Right now I am on Social Security, Medicaid and food stamps. It made things more difficult ...
4
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1answer
141 views

What is deducted from a social security monthly payment?

About to retire in ~8 months and live in California. I would like to know what taxes and deductions I should expect to see in my SS payment check; the SS office tells me I will receive ~2300, but how ...
5
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1answer
151 views

My employer is refunding incorrectly witheld FICA. Do I need to wait for W-2c to file?

My employer withheld FICA taxes and generated a W-2 based on it. I see the error and report it to them. Now they are refunding the FICA taxes and will issue a W-2c. They say you can proceed with ...
4
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2answers
3k views

FICA was not withheld from my paycheck

Hello personal finance, I was filing my taxes for 2016 and I just found out that I transitioned from Non-Resident-Alien to Resident Alien around September last year by passing substantial presence ...
6
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2answers
127 views

Are there tax-advantaged accounts (e.g. HSA, FSA) for retired Social Security recipients?

Medicare doesn't cover 100% of my medical and dental expenses. Is there a tax advantaged plan I can start to contribute to in order to pay them? I have no employer to 'offer' one.
3
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1answer
81 views

Reporting SSA-1099 income for newly married spouse

I got married in December 2016 and up until November 2016 my spouse was receiving social security benefits. Since our combined income exceeds the threshold for receiving benefits, she had the benefits ...
11
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8answers
5k views

How much should a hobby business make to be worth the effort for taxes?

My wife was a software developer for 15 years until we had our daughter, and since then she has been primarily concerned with caring for her. She has been volunteering her time for personal ...
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2answers
90 views

What “Halving” Change To Social Security Benefits Based On Income?

I had a recent conversation with a retiree that their social security benefits were cut in half because their income was too high. They mentioned this was new, but I can't find any new laws about ...
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0answers
47 views

Social Security and Death [duplicate]

My father died Jan 12th and no social security payment was posted to his bank account in Jan.& directly deposited on Feb. 4th. Does that money belong to his estate or will the dept. of social ...
3
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1answer
156 views

Do non-resident freelancers need to disclose their SSN?

I am neither a resident nor a citizen of the United States, but about twenty years ago, I did live and work there temporarily. I got a Social Security Number and paid income tax on my earnings from ...
14
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2answers
1k views

Will the Windfall Elimination Provision reduce my Social Security?

I have recently changed careers after working for 20+ years outside of education, and now I'm being told I will never be able to access any of the SS dollars I have contributed because now my ...
7
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1answer
1k views

Is social security paid biweekly or monthly?

Is social security paid biweekly or monthly? My father is retiring soon and I can't seem to find this answered directly.
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1answer
497 views

German + U.S. Social Security Agreement

I'm an American and have been working in Germany for the past few years, first in a company and now as a Beamter (government employee). I am planning to move back to the U.S., and had a question about ...
4
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1answer
291 views

Calculating Social Security with early retirement

I may retire early, in my mid 50s. How can I tell what my Social Security benefits will be? The SSA website says: At early retirement age (62): $XXXX a month Your estimates are based on the ...