Social Security Table » Taxes http://social-security-table.com Mon, 28 Dec 2009 03:53:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Learning the Fundamentals of Social Security Survivor’s Benefits Claim http://social-security-table.com/learning-the-fundamentals-of-social-security-survivor%e2%80%99s-benefits-claim/ http://social-security-table.com/learning-the-fundamentals-of-social-security-survivor%e2%80%99s-benefits-claim/#comments Sun, 30 Aug 2009 18:03:57 +0000 admin http://social-security-table.com/learning-the-fundamentals-of-social-security-survivor%e2%80%99s-benefits-claim/ Claysphere Rivera asked: social_security_626_article

General public opinion had generated the belief that Social Security is designed exclusively for retirement. Contrary to this misconception, Social Security System offers a variety of programs that cater not only benefits for retiring individuals but also programs providing assistance for the disabled including their dependents.

This article focuses on Social Security program, particularly survivor’s benefits. More specifically, the article gives a thorough exposition of the fundamentals of Social Security survivor’s benefits claims.

Foremost, a brief discussion about Social Security survivor’s benefits is worthwhile.

Social Security survivor’s benefits are designed to provide the much-needed income to the surviving family members of a qualified decedent making their lives sustainable at least.

Not just anybody can apply for this kind of benefits. The Social Security Administration had provided constitutive requirements for a survivor benefit claims.

The survivor’s eligibility is gauged based on the decedent’s earning record showing his work, payment of social security taxes and earned work credits. The work credits are crucial in this respect because it would be made the basis for the survivor’s entitlement of this particular kind of social security benefit.

Worthy to note however, under a special rule, if you are only “currently insured” at the time of your death and relatively have only 6 credits in the 13 quarters prior to your death, your children and your spouse can still receive this benefits.

On the other hand, if you have determined your qualifications for benefits it would be wise to apply promptly, especially if you are not yet a recipient of social security benefits. This is for the reason that the benefits are paid from the time of application and not from the time that the worker died.

The application for benefits generally requires relevant information such as the following:

• the proof of death;

• Social Security number of the applicant as well as the deceased worker;

• marriage certificate if applying as a divorced widow or widower;

• dependent children’s social security numbers if available including their birth certificates;

• deceased worker’s W-2 forms or federal self-employment tax return for the most recent year; and

• the name of the bank and account number of the applicant so that the benefits can be deposited directly in the account

Some of the requirements mentioned above can be dispensed with especially to those who have already received Social Security benefits. However, it is essential to report the death with the Social Security office so that update and changes of payment would be made.

With reference to the amount of survivor’s benefits, the same relatively depends on the earnings of the person who died. The more the worker paid into Social Security, the greater your benefits will be.

Take notice that, there is a limitation to the payment of benefits to the survivor members each month. The limit varies, but is generally between 150 and 180 percent of the deceased’s benefit amount.

More so, reduction of benefits can be halted on the following situations:

• To those who get a pension from work that was not covered by Social Security, like the federal civil service, your Social Security benefit may be reduced.

• Those who are working and have been receiving Social Security survivor’s benefits and are younger than full retirement age, the benefits may be reduced if your earnings exceed certain limits.

However, the reduction of benefits affects only the survivor concerned and not the benefits of other family members.

A special rule applies to those who remarry. Generally, widow or widower’s benefits are not given to those who remarry before age 60.

However, remarriage after age 60 (or age 50 if disabled) will not hold the survivor from getting benefit payments based on the latter’s former spouse’s work.

At age 62 or older, the survivor may get benefits based on his/ her new spouse’s work, if the benefits are higher.

Like any other claim under the whole spectrum of Social Security, claimants are given the right to dispute the findings or decision of the Social Security Administration.

An appeal, to be specific, is given to the claimants. The latter process entails complex situations that need another careful elaboration.

The key thing in all types of claims is the right of the claimant to confer with a Social Security lawyer of their choice.

For credible information and expert representation on your survivor benefits claim, log on to our website and seek the assistance of our Los Angeles Social Security attorneys.

Create a video blog ]]> http://social-security-table.com/learning-the-fundamentals-of-social-security-survivor%e2%80%99s-benefits-claim/feed/ 1 Social Security Tax http://social-security-table.com/social-security-tax/ http://social-security-table.com/social-security-tax/#comments Tue, 28 Jul 2009 08:22:39 +0000 admin http://social-security-table.com/social-security-tax/

Hans Hasselfors asked:


You should be able to find several indispensable facts about social security tax in the following paragraphs. If there’s at least one fact you didn’t know before, imagine the difference it might make.

Every week that you work, there are taxes deducted from your gross payroll that are distributed to the Social Security Administration, along with other programs administered by the government. Of all the taxes we pay, social security is one of the most beneficial, one of the most watched. Why do we pay social security tax, and what does it potentially mean for all Americans? The following article discusses the social security tax regulations and what we benefit from the mandated deduction.

Social security tax is deducted from our payroll each week in order to cover a portion of our retirement income when we reach age 65, but also a survivor benefit, should we become disabled during the course of our working life, or die as a result of work-in which case the surviving spouse and children would receive a monthly income supplement to help them with their daily expenses.

Each and every day, we are bombarded with statements that want to make us aware of the dire straits our social security system and the gloom and doom picture we face in just a few years. This article examines the information available about our social security system, and asks the questions about its fate and ours.

The social security tax we know and pay today has become a greater chunk of our income with the passing years. And, as if this is not enough, it is the poorest of this nation that pay the most, since there is a cap on the income levels that are subject to the social security tax. Currently, any income above $90,000 isn’t subject to social security tax. This presents a problem for the nations poor and the federal government’s level of social security tax received. As more and more of our population begin to age, there are fewer and fewer based employees to sustain the fueled growth and maintenance of the social security system. Add to this the fact that individuals with wage earnings beyond $90,000 are growing faster than the wage base for employees who remain below the $90,000 level, and you have the makings of a disaster. The latest predictions place the collision date somewhere around 2017. That’s not an extremely distant future, and it certainly will be a problem for the 45-50 year old wage earner.

So what has been proposed to deal with this growing problem? There are currently several proposed solutions to the problem, and all of them, with just a few exceptions point to higher taxation of the wage earners income. It is interesting to note here, that when income tax and social security, Medicare, and the many other “beneficial” programs the government has implemented to aid the general public, we have lost in the area of disposable income. In 1913, when the income tax program was begun, less than 1% of the average individual’s income was taxed. Today, we pay roughly 10% of our income in tax. That’s a staggering rate of growth, when you consider that our income levels have also tremendously increased too. The following paragraphs briefly outline some of the more popular proposals for dealing with the projected shortfall, and the effect it should have on “Joe Citizen”.

The information about social security tax presented here will do one of two things: either it will reinforce what you know about social security tax or it will teach you something new. Both are good outcomes.

Increases in FICA taxes; of course, this is a hard sell in the current climate, but by the time we reach 2017, it might look like a better solution than any of the others.

Increases in normal retirement age (NRA) have already begun, and it looks like it is going to be an ongoing process. As our life expectancy increases, the ability of social security to accommodate greater payouts, and a reduction in the working population continues, extending the NRA on past the age of 70 is a real possibility.

Privatization of social security; although on the surface this looks like a promising solution, it would take a special kind of citizen to intelligently, objectively, and rationally invest their 4% allocation wisely, and truly reap the benefit that social security has previously provided.

Selling bonds or printing money. The US Treasury does have the option to intervene and raise the money to accommodate the excess demand, but you increase the probability of runaway inflation when you begin to pump excess money into the economy.

What is the ultimate solution for this problem? No one really knows, simply because no one can accurately predict long-range models. 20, 30, of even 40 years into the future, accurate predictions are extremely hard to come by.

That’s how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest social security tax news.



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]]> http://social-security-table.com/social-security-tax/feed/ 0 Social Security Death Benefits Guide From a Los Angeles Attorney http://social-security-table.com/social-security-death-benefits-guide-from-a-los-angeles-attorney/ http://social-security-table.com/social-security-death-benefits-guide-from-a-los-angeles-attorney/#comments Sat, 27 Jun 2009 19:17:21 +0000 admin http://social-security-table.com/social-security-death-benefits-guide-from-a-los-angeles-attorney/
Claysphere Rivera asked:


 

This article will tackle about Social Security Death Benefits, in matters of its purpose, coverage and entitlement, including the value of Attorney representation in claims of this sort.

A good way to start would be to discuss significant points regarding Social Security Death Benefits.

Social Security Death Benefits

Everyone who works in the United States is mandated or required by law to pay into Social Security. Upon occurrence of circumstances such as disability or upon retirement, these benefits are paid out to the person who contributed into Social Security. This is normally how the system works.

Specifically, when a member dies, the benefits that he/she are entitled for or was receiving does not expire with his/her death. Instead, they are passed on or transferred to certain eligible members of his/her family. The benefits that the surviving family will get are capped as survivor’s benefits.

Under the Social Security guidelines, if a person worked, paid Social Security taxes and have earned good amount of work credits, any eligible members of the person’s surviving family can be entitled for survivors benefit upon his death.

The number of years a benefactor needs to work for their family to be eligible for Social Security survivor benefits depends on his/her age when he or she dies. The younger a person is, the fewer years he or she needs to work. However, no one needs more than 10 years of work to be fully insured or eligible for any Social Security benefit.

Eligible Survivors

The rules are more complex in this matter. However, as a general overview these people can receive Social Security death benefits, given any of the following conditions:



Your spouse (full benefits upon retirement, reduced benefits at age 60, and full benefits for disabled individuals 50 and older)

Your spouse at any age, who is taking care of your child who is under age 16 or disabled

Your ex-spouse age 60 or over (50 or older if disabled) who was married to you for at least 10 years

Your ex-spouse at any age, who is taking care of your child who is under age 16 or disabled

Dependent parents who are 62 or older

Disabled children of any age

Unmarried children under 18, up to the age of 19 who are still in high school full time

Stepchildren, grandchildren, and adopted children (circumstances vary with these survivors)



Benefit Amount

The amount of Social Security death benefits that a survivor can receive depends on several different factors.

However, the benefits that an eligible family will receive monthly from survivor benefits depend on the decedent-member’s average lifetime earnings. That means, the higher the earnings, the higher the benefits. In turn, the monthly benefit is equal to a percentage of the decedent-member’s basic Social Security benefits. The percentage depends on the survivor’s age and relationship to the decedent-member.

This is all too complex and complicated. For better light on this matter, you can confer with a Social Security Attorney to give you a clearer and detailed account.

Lump-sum benefit

If the decedent-member has accumulated enough work credits, his or her surviving spouse or minor children may receive a lump-sum benefit of $255, if they meet certain requirements.

For the surviving spouse to be eligible, he/she must have been living with the decedent-member at the time of the latter’s death, or if living apart, must have been receiving benefits based on the decedent-members earnings record.

If the decedent-member is not married at the time of his or her death, the death benefits may be divided among his/her children who are eligible.

Actions Needed

After the death of the decedent-member, it is significant that survivors take all the essential steps to determine the availability of Social Security Death Benefits. On this score, it is relevant to consider the hiring of a Social Security Death Benefits Lawyer who is adeptly knowledgeable with claims and compensation under the Social Security.

Because of the complexities in the procedure of filing a death benefit application, the surviving family may necessitate the aid of a Social Security representative in order to have better chances of approval. In Los Angeles, there is a considerable number of qualified Social Security Lawyers who can help you in this respect.

Closing tune

With the great depression brought about by the death of a loved one, there is a reason to feel low and a great reason to move on. For the surviving family members, when you happen to be in this situation, be quick to respond in order to get the rightful Social Security benefits at the soonest. For more help and assistance, seek Attorney’s services.

Our expert Los Angeles social security lawyers are knowledgeable with issues such as death benefit claims. For more information, you can log on to our website and have your case evaluated.



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