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According to IRS publication 54 (2007), pensions are "unearned income" and thus in the same category as capital gains, dividends and interest income. Withholding tax is not assessed on pensions, capital gains, dividends and interest.
Wiki User
∙ 16y ago
Wiki User
∙ 13y agoEarned income is subject to FICA withholding, regardless of your age. If you continue working, even if you are also drawing Social Security benefits, you will continue to contribute to Social Security.
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During Kennedy's term Social Security coverage was increased and medical coverage to retired persons was extended?
False A+ answer
What is average ny social security benefit pay?
what is the average social security payment for all people that are retired
What has the author Vindya Eriyagama written?
Vindya Eriyagama has written: 'Assessment of the Pension and Social Security Benifit Scheme for the Self-Employed Persons in Sri Lanka' -- subject(s): Old age pensions, Social security, Sri Lanka, Sri Lanka. Pension and Social Security Benifit Scheme for the Self-Employed Persons
Could you inform me about social security death benefits?
When an individual dies, social security should be notified as soon as possible and the funeral director will report the persons death and they will require that persons social security number.
Which government programs help cover costs of retired Americans?
Social Surcurity
What has the author Jonathan Peterson written?
Jonathan Peterson has written: 'Social security for dummies' -- subject(s): Large type books, Social security 'Social security for dummies' -- subject(s): Social security
Which tax is collected to support retired or disabled workers?
social security tax
Can you collect social security benefits while retired from the state of NC?
Yes
How do you get a persons army serial number?
now days a military serial number is the assigned social security number. find the persons social security number and you have the army serial number............
Do social security still cover health insurance for adults?
Social Security is not a health insurance program. Medicare covers medical care for persons over age 65 and certain persons who are totally and permanently disabled as defined by Social Security regulations.
Can someone use your social security to rent a house?
Yes, Social security can be used to rent a home. Social security once it has been approved whether disabled or retired is to be your source of funding your living expenses. You can even buy you a home with social security.
Will social security benefits be enough to provide through the average persons retirement?
No, social security benefits are expected to run out after 2020.
