Are IRA retirement payouts subject to the social security tax?

Answer IRA distributions are not subject to the social security tax, because they are not considered "payroll income." Only payroll income, such as your wages from your employer, is subject to social secu... Read More »

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Do social security disability payments received before normal retirement age reduce social security retirement payments at normal retirement age?

Indemnity plans do not have to pay the hospital or doctor. Indemnity plans are designed to indemnify either the insured or the provider. That means if you have services that cost 20,000.00 dollars ... Read More »

How to Get Lump Sum Social Security Payouts?

When someone who has worked enough to qualify for Social Security benefits dies, their closest surviving relative can receive a lump sum payment of $255 to help cover expenses. Other Social Securit... Read More »

Is Social Security Subject to Income Tax?

About 96 percent of Americans contribute to Social Security. Social Security funds accumulate over a lifetime of earning by taxation of income through Federal Income Contributions Act (FICA) taxes,... Read More »

Are all wages subject to Social Security tax?

Any wages above the contribution and benefit base of $106,800 in 2010 are not subject to social security tax. In addition, some specific wages including those earned in a federal work-study program... Read More »