Key Takeaway: Social Security Tax is a payroll tax that provides retirement, disability, and survivor benefits to individuals and their families. The Social Security Tax rate in 2017 was 6.2% for employees and employers, with a maximum taxable income of $127,200. Self-employed individuals must pay both the employee and employer portion of Social Security Tax,…
Key Takeaway: The Social Security Trust Fund is projected to run out of money by 2034: This means that if no action is taken to address the funding shortfall, beneficiaries may face benefit cuts or higher taxes to sustain the program. The depletion of the Trust Fund is influenced by demographics and economic conditions: As…
Key Takeaway: Social Security Form SSA-44 is used for requesting a waiver of premiums for Medicare Part B, Part C, and Part D, based on financial hardship or exceptional circumstances. It is important to carefully review and fill out the form accurately to avoid delays or denial of premium waiver requests. To obtain Social Security…
Key Takeaway: The symbol of Colonial Investment Grade Municipal Trust is an identifier used to trade the trust’s shares on the stock market. In investment, symbols are important because they provide a quick way to identify a particular security. The design of Colonial Investment Grade Municipal Trust’s symbol is based on its name and purpose,…
Key Takeaway: The Social Security Trust Fund was established to provide financial stability for retired and disabled citizens, and has a long history dating back to the 1930s. The issue of mismanagement has plagued the Trust Fund, with allegations of theft and other forms of financial malfeasance. Government response to the issue has been mixed,…
Key Takeaway: There are three options for transferring a UK pension to Australia: transfer to an Australian Superannuation Fund, transfer to a QROPS scheme, or transfer to a Self-Managed Super Fund. Each option has different eligibility requirements, tax implications, and fees, so it is important to research and compare them before making a decision. Age…
Key Takeaways: Research and planning are crucial before starting an investment company. Identify the target market, determine the type of investment company, and create a business plan. Legal and regulatory compliance is key to avoid penalties and fines. Register the company, obtain licenses, and comply with rules and regulations. Raising capital is necessary to start…
Key Takeaway: The Social Security Number (SSN) can be found on bank statements to verify the identity of the account holder and ensure security. For checking account statements, the SSN can be found on both online banking and paper statements. For savings account statements, the SSN can also be found on both online banking and…
Key Takeaways: L&I Rough Pension Cola Payment is a type of retirement benefit paid to retired L&I employees. The calculation of the Cola payment is based on the length of service, salary history, and retirement age of the employee. The factors affecting the Cola payment include inflation rates and government policies on retirement benefits. Are…
Key Takeaway: A Social Security CD is a type of certificate of deposit that is offered exclusively to individuals who receive Social Security benefits as a way to earn higher interest rates and guaranteed returns on their savings. Opening a Social Security CD can provide beneficiaries with a safe and secure way to invest their…
Key Takeaway: Identify your reason for contacting the Social Security Office: Before making an appointment, it’s important to determine why you need to contact the Social Security Office. This will help you schedule the right type of appointment and ensure that you have the necessary documentation and information. Determine the availability of appointments: You can…
Key Takeaway: Understanding why $144 was withheld from your Social Security check is the first step to getting it back. It’s important to review your payment information and check for any discrepancies or changes that may have affected your payment. Contact the Social Security Administration by phone, in person, or by writing a letter or…