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Statistics from the National Institute on Disability and Rehabilitation Research show that 3.5 percent of the adult population in the United States have a mental health disability. Employment rates for those with a mental illness are 20 to 30 percent lower than those with no mental health issues. Mental health disability benefits were... more »
Taxes--it's tough to escape them. When it comes federal taxes, there's always the question of why people must pay them. more »
According to the IRS, overpayment of Social Security taxes is quite common, especially if you change jobs during the year or work for more than one employer. If you did pay more than the annual Social Security tax limit of $6,324, you can claim the excess amount on your tax return. The overpayment will be calculated with your other... more »
Every time that you get your paycheck, you notice several items removed. Usually there's state and federal tax, a local tax if you have one, Old-Age Survivors and Disability Insurance (OASDI) and Medicare tax. OASDI and Medicare tax are both part of FICA, the Federal Insurance Contributions Act, also called Social Security tax. The... more »
When you receive a paycheck from your employer, you may be surprised that the check's amount---called the net pay---is less than what you calculated. With a calculator and that net pay number, figure out your gross pay. more »
The Social Security system was created by Social Security Act that was passed on August 14, 1935. In 1940, the first benefits were paid out and a... more »
There are two Social Security taxes that must be deducted from an employee's paycheck. The Social Security tax itself pays for retirement and/or... more »
Whether you are a small-business owner or self-employed, you have to know how to calculate Social Security taxes. It's not difficult, but the... more »
Most U.S. workers are required to pay Social Security taxes on their earned income. For most taxpayers, Social Security taxes are deducted by... more »
Social Security affects just about every American family in one way or another. Whether is is through disability benefits, retirement benefits, or... more »
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