I am 40% disabled and only get that portion as a tax relief on my income. What does it take to actually get paid disibility without it first coming from your retirement check?
208924
An amount equal or higher than your retirement check.
193643
what interest are expecting from worker's comp?  it's a disability check...not regular income...or checking account...and it's tax-free money...not sure what you're looking for.
537707
Don't let the others scare you.  You will pay:\n\n6.2% for Social Security\n1.45% for Medicare\n4.3% for Federal (assuming you enter Single 0 on your W-4)\n?% for state\n?% for local\n\nAt worst, 15% will be gone for taxes.  I don't know how Michigan taxes you, so I put in ??.  It can't be much.  Here in PA it is 3.07%.  In CA it would have been close to 0% because you didn't earn much.\n\nI am assuming your parents still claim you as a dependent.  If not, your federal will be lower.  15% is a worst case estimate based on solid assumptions.  As you earnings rise, the percent for federal will rise too, but social security and medicare will remain a constant percentage.  I highly suggest entering Single with 0 withholding allowances on your W-4.  The W-4 is one of the forms your employer will have you fill out when you start work.\n\nGood luck and don't worry so much about taxes.  Try to earn as much as possible!
599446
If the problem is with the IRS, you should call the IRS ombudsman, whose number should be in the phone book under US Government - IRS.\n\nIf your only income is from SSDI, your distribution can only be assessed for taxes and only up to 15%.\n\nI don't see how any information from your previous employer is relevant to anything.
312612
There are a lot of rules on SEP IRA's. It's not common to REQUIRE employees to pay in  but if you don't, you will not be eligible for employer contributions (unless your employer is extremely extra-generous).  Their statement that a contribution by you is "required" may really mean it's a requirement to contribute IF you want the employer match; they may just have worded it strangely.  Usually if you do not contribute to your own IRA, the employer does not either.  In fact, I have never heard of an employer putting money in someone's IRA or 401(k) regardless of the variety if the employee does not make contributions (although I am sure it could happen).\n\nContributing to your SEP IRA is a really, really good thing and I'm not sure why you'd want to bypass that--- it lowers your taxable income (this is super important, especially if you are on a 1099 form) and your employer match is basically free money--- you don't have to do anything to get it except put away some of your own money for retirement.
487866
Let me make sure I understand the question.  Are you saying you are taking out an early distribution from your IRA of $40,000 and want to shelter all of it from the 10% early distribution penalty?  Well, first of all, you only have $10,000 per person per lifetime of 1st time home buyer's exemption.  Of course, if there are two of you, each can pull out $10,000 from their own IRAs.\n\nIt looks like you are reading Publication 590.  Good.  The phrase that is confusing to most people is "The part not subject to the tax is generally the amount that is not more than the qualified higher education expenses (defined later) for the year...".  What they are saying is that the amount you can exempt for education can not be more than the amount you paid for education.  They are not saying you can't include other exemption items on top of the education exemption items.\n\nSo, if you paid $11,000 for tuition, fees, books, supplies, and equipment regardless if it was from a loan, a gift, or from your own wallet, but not from a scholarship or grant, and if you paid at least $10,000 for a house, and if your medical expenses exceeded 7.5% of your AGI by $2,000 (regardless if you use a Schedule A), then you can pull out $23,000 from your IRA and not be penalized.  Don't forget that even though you avoid the penalty, you will still have to include the amount you pull out as taxable income in the year you pull it out.  There is nothing you can do to avoid that.
185435
It can take 2 to 4 months for the decision.  I had my hearing in early July got an answer in late September which was favorable to me  I collected some, SSI starting in late October and received my first actual Social Security Check on March 3rd this year.  I still have not heard about back pay.  My disability goes back to and is approved for back to January, 2002.  It is a long drawn out process.  If you have a lawyer involved the Social Security Office will not give you any information only the attorney and my attorney said he has had cases where the decision took one day less than a full year.  I waited 16 months for my hearing so I understand the waiting process can wear on you.  However be forewarned that even with a fully favorable decision it will take you some time to start receiving payments.  The best of luck to you and I hope that they have streamlined the process some in the past few months, however I have just given you an honest time frame of my case.  By the way once you get a favorable decision go to your Social Security Office and get them started giving you some SSI, it helps a lot when you have been waiting and it will come out of your lump sum settlement from Social Security.  Believe me I was glad to have that as an option.
347649
You'll need to go down to the Social Security office and apply to be on your own.\n\nIf your disability is bad enough, they may keep giving the money to her for you though.\n\nGood luck.
351129
Are you registered with the dept of disability services at Dept of Human Services. Once registered and you get a doctors statement which proves your disabilty then if they have funds they will help you (most usually don't have funds in Spring but in Fall)..They paid all my tuition and so much on books..Then fill out the FAFSA and you should be able to get pell grants and loans. It's based on last years income. If you worked last year and now you are on social security you can get a financial aid override and they will ony count what you make on social security. It will be almost impossible to get reg. with DHS, get the paperwork, the FAFSA, etc. by spring term. It can be done but you may not get your loans until mid sem. or after.
588332
Medical premiums are an income tax deduction.  There are two ways to get this deduction.\n\nIf you work the government allows immediate relief by allowing the premiums to be paid on a pre-tax basis and therefore lowering your income tax.\n\nIf you don't work then you're allowed to deduct these premiums against any unearned income you have on your tax return.\n\nIf you pay no income tax in retirement then you can obviously not claim a deduction against taxes you have not paid.
153315
this was not enacted by congress. The 4% you are referring to is Social Security with holdings they were going to allow you to self direct for your own retirement. I urge you to save it any way in a ROTH  I.R.A..
224003
Disability is critical to protect the income stream of the any income earner.  Not just to protect the loss of income to the family, but also to cover the living and medical expenses of the disabled.\n\nHowever, you need to evaluate the policy.  $250/month sounds like a lot, but it might be because you're getting a high coverage.  Generally, you should insure about 2/3 of your current income.  Because the benefit will not be taxable if you pay the premium using after-tax dollars.\n\n- Does the policy cover own occupation or any occupation?  Get one policy that at least cover own occupation for the first several years of disability.\n\n- Does the policy pay up to age 65, or for a duration like 5 to 10 years?  The longer the payment, the higher the premium.\n\n- Is there a social security income rider? The premium will be cheaper with this rider since the insurance will work in conjunction with the SSI not in addition.\n\nIt's true that group policies are much cheaper than individual ones.  However, those policies will cease when your husband leaves work or is laid off.  It's still wise to own your own disability policy.  But if the job is relative secure, you might opt for a smaller coverage on your individual disability policy which will bring the premium down.\n\nAlso, if you pay the premium annually or quarterly, it's always cheaper than paying monthly.
479482
I retired from Social Security after 32 yrs!  All checks used to arrive on or near the 3rd of each month & will continue to be paid on that date to people who started getting checks before the change.\n\nNow Social Security retirement, survivor & disability checks come different weeks depending on a person's birthday.  For example:  If someone's birthday falls on the 1st thru 7th they would be paid the 2nd wk of each mo.  (I don't remember the details anymore but you get the idea).  If a check arrives on someone's actual birth date it's just a coincidence.\n\nSome people get SSI & those cks are due on the 1st altho cld take 2 or 3 days for them to get checks. SSI is NOT Social Security benefits.  It is a welfare program administered by the Social Security Administration for the blind, disabled & aged which is based upon financial need unlike Social Security benefits.\n\nSocial Security made this change for 2 reasons:  1) to space the checks so that employees aren't inundated with phone calls/work the 1st wk of each mo which results in better service & beneficiaries can get thru on the phones more easily and 2) it makes it less of a burden for postal employees.
204258
try to deffer the payments as much as possible so that if this ends up being you only source of income then you will end up paying less taxes i don't think that it will be tax free. unless it is a roth IRA where you paid taxes upfront to later have tax free money when you get the money.
174878
How would you feel with no incometax. Its like having a 100% raise. usualy all expensses paid and everything.\n\nby the way you should say why ARE americans more happy to... not why do.\n\nplus, it doesnt only apply to americans. Im from Canada and there are many europeens and asians also. Its a land of opportunity. That is until the oil reserves go down or until some religious crazy regime takes over. I hope it wont until I finish my work here.
544657
The Basic Rule. Up to 50% of Social Security benefits are taxable if total “provisional income” (adjusted gross income, tax-exempt interest and one half of Social Security benefits) exceeds a base amount: $25,000 for single taxpayers and $32,000 for married taxpayers filing jointly. At this level, taxes are payable on the lesser of (1) 50% of Social Security benefits received, or (2) one half of the difference between provisional income and the applicable base amount. Fortunately, this is the end of the income taxation picture for most recipients of disability benefits.\n\nThe Second Tier. A second tier of income tax - reaching up to 85% of Social Security benefits received - kicks in (1) for single taxpayers with provisional income over $34,000, (2) for married taxpayers filing jointly with provisional income over $44,000, and (3) for all married taxpayers who file separate returns, but do not live apart.\n\nFor these second-tier categories, income taxes are payable on the lesser of (A) 85% of Social Security benefits or (B)  the total of (1) 85% of the difference between provisional income and the applicable adjusted base amount ($34,000/$44,000), plus (2) the lesser of (a) half the benefits or (b) $4,500 (for singles / $6,000 (for married couples filing jointly). The adjusted base amount for married persons filing separately but living together is zero; taxes are payable on the lesser of 85% of benefits or 85% of provisional income.
515478
It's actually a total of six months from the time you were disabled, and there is no guarantee you will be approved then. It's just the time you have to wait to apply. They really could care less if you survive or not, as a matter of fact it's to their benefit if you don't.