In Is Social Security Disability Taxable I discussed when someone who receives disability benefits might owe taxes on those benefits. Whether your disability is taxable or not depends on what other income you have. To recap… If you are single and your modified adjusted gross income plus half of your Social Security benefits is less […]
Payroll Tax Cut Extended for the Remainder of 2012
Update: The payroll tax cut was allowed to expire on December 31, 2012. You should have noticed an increase in your tax withholding on your first paycheck in 2013. In a surprising early decision (for Congress), the 2012 payroll tax cut was extended for the remainder of the year. After the House and Senate couldn’t […]
The Social Security Name Change Process
The U.S. Social Security Administration is responsible for the accurate tracking of your social security benefits and payments. In order to track this information, the SSA must record your annual work history, which includes your work locations and total annual earnings. If the agency cannot track this information accurately, this will affect your Social Security […]
Eliminate the Wage Base to Save Social Security?
As discussed in ‘Congress Expected to Extend Payroll Tax Holiday into 2012’ there is quite a debate going on in Congress right now regarding Social Security. While the main question is whether to extend the Social Security tax cut, an underlying question is how to keep Social Security solvent. Every year, Congress waits until the […]
Congress Expected to Extend Payroll Tax Holiday into 2012
Before the end of the year, Congress will be voting on whether the current payroll tax holiday will be extended into 2012 or it will be allowed to expire at the end of 2011. Without an extension, taxes for the average American family would be approximately $1,000 higher next year. Update 12/24/11 – The House […]
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