admin on Jan 30 2006 | Filed under: Taxes
Social Security benefits are not exempt from Federal income tax. This is true for both Social Security retirement and disability benefits. SSI benefits however, are not taxable. Whether or not you have to pay income taxes on these benefits depends on your total income for the year. For most people who […]
admin on Jan 20 2006 | Filed under: Retirement
In order to qualify for Retirement benefits under Social Security you need to work and pay Social Security taxes for a minimum of ten years. The ten year requirement does not mean that the ten years of work has to be continuous; Social Security breaks your work record up into “quarters of coverage” or “credits.”
You […]
admin on Jan 09 2006 | Filed under: Announcements
A common misconception about Social Security is that: “The money I pay into Social Security is my retirement or disability, and when I retire that pile of money is there waiting for me.”
In fact, the taxes you pay on your wages fund the Social Security Trust Fund, which actively pays the people who are […]