All Questions
Tagged with social-security taxes
37 questions
5
votes
2
answers
851
views
are my ss benefits taxable income if my spouse continues working?
I can't get a straight answer on this as none of the calculators on line make a distinction between my salary and my spouses salary, my ss benefit vs spousal benefits, etc. My situation is this:
...
-8
votes
3
answers
6k
views
I don't want Social Security Benefits, how do I not pay it's taxes?
Very simple: I don't want any Social Security Benefits, I don't want the taxes or the benefits, and am aware of the risks. For 2023 the max taxable income for Social Security Tax is $160k and 12.4% of ...
2
votes
2
answers
2k
views
Do retirees need to pay social security and medicare after retirement?
Once you have retired, assuming you are only living off a government pension and 401k, 457 and IRA savings do you still have to pay social security taxes and medicare taxes?
I usually see these taxes ...
- 207
3
votes
1
answer
2k
views
Reporting taxes withheld from social security check on 1040. Do I need to attach SSA-1099? They only send one copy and it says do not return to irs
I have a question about reporting taxes withheld from my social security check. At present, I have 10% deducted for federal tax. Do I need to attach SSA-1099 to form 1040 like I do with 1099-R? They ...
- 93
-1
votes
2
answers
228
views
Pay 50% on benefits from US Social Security?
I am not sure if it is like what it sounds, which is scary:
https://www.investopedia.com/ask/answers/013015/how-can-i-avoid-paying-taxes-my-social-security-income.asp
From $25,000 to $34,000: You may ...
- 1,097
4
votes
1
answer
326
views
US Social Security taxes while working for Canadian employer but living in third country
https://stackoverflow.blog/2021/02/19/podcast-314-how-do-digital-nomads-pay-their-taxes/ got me thinking, how would a United States citizen, living in Taiwan (which has no Social Security totalization ...
- 151
1
vote
2
answers
276
views
German PhD Student doing a Paid internship in USA for 3 Months. How to handle the taxes?
I am doing my PhD in Germany and get paid by the university.
This autumn I am going to the USA (Massachusetts) for an internship at a software company.
For those 3 months my salary from the university ...
- 111
1
vote
1
answer
1k
views
Received a Letter from SSN Administration and Very Confused
I received a Form SSA-L5114 and it says
"Based on information provided to us from Internal Revenue Service, we are reducing the amount of your self-employment income on your Social Security ...
- 759
1
vote
1
answer
90
views
Total income between job and self-employment will exceed Social Security cap
This is similar to another question (here)... but I'm not sure if the answer is the same.
I work in the oilfield and I mine cryptocurrency. Because of the current crypto bull cycle the income from ...
- 163
2
votes
0
answers
121
views
Past employer should have withheld FICA taxes—but did not do so. What do I do now? (J-1 Visa)
I am an Indian citizen who moved to the United States on a J-1 visa. I worked for one employer for just over two years before moving to another employer for whom I worked for one year. I am now ...
- 21
1
vote
1
answer
101
views
Tax ID/social security number After leaving USA
I am currently a Canadian working in the US. I have a working visa so I also have a social security/tax id.
My question is when I leave the country in the future what happens to my social security ...
- 13
8
votes
2
answers
1k
views
How is FICA calculated?
I'm thinking of taking on a contracting job next year, along with my current full time job, and I want to know how the two income streams would interact. When income reaches a certain level (~ $137k), ...
- 463
4
votes
2
answers
2k
views
In the USA, do OASDI, Medicare, and Federal income taxes stack?
Or are they applied in sequence? (and if they are, what order are they applied in?)
As an example, if an American individual makes $100,000.00 in wages in 2020, and that is their only income, are ...
- 43
3
votes
2
answers
232
views
Is there a combined Social Security wage base limit for married/joint returns?
I know that the wage base limit for 2020 is $137,700, but that is for one person. Is there a different limit for married couples filing jointly (e.g. double the $137,700 = $265,400, or something else)...
- 2,974
0
votes
1
answer
126
views
Where can I report my Social Security retirement benefit from form SSA-1042S in the form 1040NR?
I started receiving my retirement benefits from SSA last October 2019 after 2 years of processing time. They paid me a large sum corresponding to all months (25) of back pay and I received also my ...
- 1
2
votes
2
answers
157
views
Can I be refunded excess social security tax if my total salary for the year between two jobs exceeds limit?
For 2020, I will have my income split between company A and company B. Between the two jobs, my income will exceed the limit of $137,700, but it will not exceed it for either specific job.
With that ...
user93709
2
votes
1
answer
163
views
What happens when the Medicare deductions on one's Social Security (SS) check are larger than the SS benefit?
This is probably going to happen to me in 2021. For 2020, my net monthly SS benefit will be $8.00 (eight dollars). A little more IRMAA (income related monthly adjustment amount, which is a surcharge ...
- 1,900
1
vote
0
answers
2k
views
Fed MED/EE, Fed OASDI/EE and CA OASDI/EE visa status F1 - OPT
When I worked as intern on CPT, my employer deducted the following taxes from my pay check:
Fed MED/EE
Fed OASDI/EE
CA OASDI/EE
My tax agent said I need to request them to get that back or fill a ...
- 111
5
votes
2
answers
1k
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 ...
- 51
3
votes
1
answer
216
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 ...
- 5,350
5
votes
1
answer
471
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 ...
- 101
4
votes
2
answers
10k
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 ...
0
votes
1
answer
131
views
Can a senior collecting Social Security get a disability tax exemption?
I'm looking into some of the tax exemptions for my mother. She pays a ton in local and school taxes, so much she can barely afford it. I was reading about the disability exemption described here:
...
- 763
6
votes
1
answer
328
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 ...
- 7,571
11
votes
2
answers
2k
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 ...
- 559
2
votes
0
answers
59
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 ...
- 1,293
5
votes
1
answer
311
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 ...
- 51
7
votes
1
answer
15k
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 ...
- 2,413
1
vote
1
answer
330
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?
- 11
1
vote
1
answer
489
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?
- 11
12
votes
1
answer
2k
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 ...
- 7,011
2
votes
1
answer
859
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 ...
- 21
7
votes
3
answers
4k
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 ...
- 16.2k
9
votes
1
answer
18k
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?
- 91
13
votes
1
answer
59k
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 ...
- 1,408
6
votes
3
answers
1k
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 ...
user10366
7
votes
1
answer
7k
views
W2 and 1099 (self employed) income in same year: social security taxable income limit?
For 2013, the maximum taxable social security income for employees on wages is $113,700, and for self employed individuals it is also $113,700 (though obviously at a higher rate).
Suppose a person is ...
- 307