How Social Security Works: The Trust Fund

October 18, 2017

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 [...]

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Social Security Retirement at Age 62

September 18, 2017

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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Social Security Retirement Benefits

September 8, 2017

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.” [...]

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Voluntary Tax Withholding

July 30, 2017

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 Cost of Living Increase

July 20, 2017

Social Security has announced the cost of living increase for 2007. This increase will be a 3.3% raise reflected in your January check. The Medicare Part B premium is also going up; this premium will have a $5 increase from $88.50 to $93.50, also effective in January 2007.

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