Is Social Security taxable?

Social security is taxable under certain circumstances. These circumstances depend on both an individual’s annual yearly income and his or her marital status. Generally, if Social Security benefits are the only source of income, the benefits will not be taxable.

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Are Social Security Payments Safe from Collection by Creditors?

While a creditor cannot garnish a social security check, if the check is directly deposited into a checking account, and a creditor seizes that account, all money in it, up to the amount that will satisfy the judgment, can be taken. A seized account is ‘frozen.’ This means, the debtor cannot withdraw any money from the account. After a set period of time, typically 60-90 days, the money is paid to the creditor.

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Social Security Disability Benefits

Social Security disability benefits are paid out through two federal programs: the Social Security Disability Insurance (SSDI) Program and the Supplemental Security Income (SSI) program. Both programs pay insurance benefits to people whose medical conditions prevent them from working their normal work schedules. To qualify, you must have “a physical or mental impairment that is expected to keep you from doing any substantial work for at least a year” – or a condition that is expected to result in your death. Generally, $1000 or more of monthly earnings are considered to be “substantial.”

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Social Security Tax

Social security tax and social security benefits are part of the system where working individuals pay into the social security system in order to receive payments during retirement or other periods when they cannot work. Most working people split the costs of social security with their employers. The self-employed also pay social security tax. Many people recognize this tax as the’FICA’ line on their pay stub. This stands for the’Federal Insurance Contributions Act’ and the Social Security and Medicare taxes levied under it are used to fund the Social Security system.

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How can an attorney help me appeal my Social Security benefits?

The Social Security Administration (SSA) allows applicants to handle their appeals by themselves or with the help of a representative. You can appoint anyone you wish to be your representative, including friends or relatives. However, many people choose to hire social security attorneys to fill this role. The reason for this is that your representative in this appeal is much like your representative in a court of law. S/he will be able to serve as your “right arm,” working entirely for your interests, and on your behalf for most issues. If you have a debilitating condition, you can expect having a representative who is proficient at these issues to be an enormous relief.

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