0
If your only income is disability do you have to pay creditors?
Wiki User
∙ 14y ago
yes.
There are limits to how much of your disability income can be used, like there are limits on just about any type of income that can be seized, but it is available to creditors. It may be garnished too.
And of course, if you have assets, (house/car/stocks/savings, etc) those may be taken to pay creditors too.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Do you pay taxes on disability income?
No
Do you have to pay income taxes on ss disability payments?
Depends on the type of disability payments you receive. I do not have to pay taxes on my military disability, it is tax free.
Do you pay taxes on social securi ty income if it is disability?
NO.
Do i as a disabled veteran pay income tax on the disability payments?
If your disability payments are through the VA then they are tax free and are not considered taxable income.
Paying Taxes on Disability Insurance?
In most cases, people who receive benefits from disability insurance will not be required to owe any taxes on that money. However, there are some cases when people with certain income levels will be required to pay taxes on disability insurance income. If a person has disability income and earns a salary that is greater than $25,000 and less than $34,000, then he or she will have to pay taxes on 85% of all disability income received in the past year. If a person earns more than $34,000, then he or she will have to pay taxes on a greater portion of the disability income.
Do i pay federal income tax if I'm on social security disability?
It depends on how much your AGI is. Most people on disability only have that as their income so they pay no tax. If you also have a pension, there is a good likelihood that you will have to pay tax on it.
Do you have to pay taxes on your private disability insurance?
IF you paid the premiums with before income tax funds for this private disability insurance the amounts that you receive is NOT taxable income to you.
Do you have to claim your veterans disability on your taxes?
No Veterans service connected disability pay is not reported on your income tax return. You do receive a 1099 information form from the VA for the amount of your disability pay that youu receive during the year.
Does georgia tax social security disability?
Some Social Security Disability beneficiaries have to pay federal income taxes on their Social Security Disability benefits, while others do not.
What does disability pay in California?
California state disability pays 55% of your income up to $987 per week in 2010.
Is Disability pay from IBM exempt from court judgments?
No. No income due and payable to you is exempt from a court judgement.
Do I have to pay taxes on a disability benefit?
You can get the answers at 4socialsecuritydisability.com. Their answer is that your disability benefits might be taxable IF you, or you and your spouse if filing jointly, have enough income to require paying taxes.
