Key Takeaway: Social Security withholding tax is a tax on wages and self-employment income used to fund the Social Security program, which provides retirement, disability, and survivor benefits. Understanding the Social Security withholding tax rate for 2013 is important because it affects how much money is withheld from your paycheck or self-employment income, which in…
Key Takeaway: The current status of Social Security: Social Security currently has sufficient reserves to pay out benefits until 2033. However, after that point, benefits may be reduced due to depleted funds. Factors affecting the depletion of Social Security funds: Increased life expectancy, rising retirement age, and reduced birth rates are all contributing to the…
Key Takeaway: Old age pension is a social security program designed to provide financial assistance to retired individuals who have reached a certain age. The amount of old age pension a retired individual receives depends on several factors such as their contribution history, earnings during their career, and retirement age. The current old age pension…
Key Takeaway: Starting a mineral water plant requires significant initial investment in land, building, and machinery. The cost of these varies depending on the location and scale of the plant, but should be carefully planned and budgeted for. In addition to the initial investment, there are ongoing operating expenses for raw materials, packaging, transportation, and…
Key Takeaway: Form CMS 1763 can be faxed to the Social Security Administration to apply for the Medicare Part B Special Enrollment Period. There are multiple faxing options available, including faxing from home or office, at a local Social Security Administration office, or using an online faxing service. The Social Security Administration fax number for…
Key Takeaway: Dependents have been required to provide Social Security numbers for tax purposes since the introduction of dependency exemptions. Dependency exemptions were introduced in 1913 but were revised in 1948 to require Social Security numbers for dependents. Although dependency exemptions were removed in 2018, Social Security numbers are still required for dependents in certain…
Key Takeaway: Investment property refers to real estate property purchased with the intention of earning a return on investment by renting or reselling it. Such property can include residential, commercial, or industrial properties, among others. The income generation potential of investment properties depends on their location, market demand, and condition, among other factors. Properties with…
Key Takeaway: Investing during inflation is important to protect your wealth and purchasing power. Inflation erodes the value of cash over time, making investing a necessity. Precious metals like gold and silver are considered safe havens during inflation, as their value tends to rise with inflation. Real estate is also a good choice, as property…
\n Key Takeaway: \n \n Cash App requires your social security number (SSN) to verify your identity and prevent fraudulent activity on the platform. \n The purpose of SSN verification is to ensure that only legitimate users have access to the financial services provided by Cash App. \n Verifying your SSN also provides security benefits,…
Key Takeaway: To qualify for a State Pension, you must have at least 520 paid PRSI contributions. This number may be higher if you were born after 1961. Eligibility for the State Pension also depends on your age, with varying requirements for men and women. In general, you must be 66 years old to qualify….
Key Takeaway: An investment memo is a document that outlines a potential investment opportunity for investors and serves as a due diligence tool for making informed investment decisions. The purpose of an investment memo is to provide a comprehensive analysis of the investment opportunity, including its strengths, weaknesses, risks, and financial projections, as well as…
