Key Takeaway: Social Security Wages refer to the earned income that is subject to Social Security taxes. This includes salaries, wages, and bonuses, but excludes investment income, rental income, and other forms of passive income. Calculating Social Security wages on W2 involves multiplying the employee’s gross earnings by the applicable Social Security tax rate. In…
Key Takeaway: The new tax plan may lead to reductions in Social Security benefits for recipients due to tax cuts, potentially impacting those who rely on these benefits for their livelihoods. High-income earners may see an increase in their taxes, which could potentially affect funding for Social Security, leading to possible future changes to the…
Key Takeaways: Cash advance apps are available for those who have social security as their income source, including apps such as CashNetUSA, MoneyLion, Brigit, Dave, and Earnin. Before applying for a cash advance app with social security, it is essential to check the eligibility requirements to determine if you are qualified and meet all the…
Key Takeaway: A change in your social security payment date could be due to a switch to a different payment schedule, a change in personal information, or being ineligible for payment. It is important to understand the reason for the change in order to take appropriate actions. If you experience a change in your social…