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Social Security Retirement at Age 62

January 28, 2012

If you plan on starting your Social Security Retirement benefits at age 62, there are several things you need to know. To start your benefits you will need to schedule an appointment or apply online; the earliest you can call to schedule the appointment is three months prior to your 62nd birthday. If you start [...]

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Are Social Security Benefits Taxable?

January 18, 2012

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 receive Social Security benefits [...]

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Social Security Privatization is Not Dead

December 19, 2011

You may recall the Bush Administration suffered a defeat in their attempt to privatize Social Security. After this initiative failed due to public outcry, the focus of Bush’s presidency shifted back to the war in Iraq. This defeat does not mean the Republican efforts to outsource Social Security are finished, not by a long shot. [...]

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Voluntary Tax Withholding

December 9, 2011

If you find yourself owing money to Uncle Sam every year in April, voluntary tax withholding from your Social Security benefits could be the answer for you. If you receive Social Security Retirement or Disability benefits you can designate a percentage of your benefit amount to be paid to the IRS each month. This amount [...]

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Social Security 1099 Forms

October 20, 2011

As of today Social Security has completed mailing form 1099 to all Disability and Retirement beneficiaries. The amounts on this 1099 have been reported to IRS for tax purposes. Remember, Social Security benefits (with the exception of SSI) are not exempt from Federal income tax. Whether or not you have to pay income tax at [...]

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