As a Taxpayer, You Contribute to Your Social Security
Social Security is a simple concept that helps older Americans, workers who become disabled, and families in which a spouse or parent dies. As of June 2018, about 175 million people worked and paid Social Security taxes and about 62 million people received monthly Social Security benefits.
The current Social Security system works like this: when you work, you pay taxes into Social Security. Many people think of Social Security as just a retirement program, and although it’s true that most of the people receiving benefits are retired, others receive benefits because they are
• A spouse or child of someone getting benefits;
• A divorced spouse of someone getting or eligible for
• A spouse or child of a worker who died;
• A divorced spouse of a worker who died; or
• A dependent parent of a worker who died.
Depending on your circumstances, you may be eligible for Social Security at any age. In fact, Social Security pays more benefits to children than any other government program.
You pay Social Security taxes based on your earnings up to a certain amount. In 2019, that amount is $132,900. As you work and pay taxes, you earn Social Security “credits.” In 2019, Americans earned one credit for each $1,360 in earnings — up to a maximum of four credits. Most people need 40 credits (10 years of work) to qualify for benefits.
Social Security Disability Benefits
If you can’t work because of a physical or mental condition that’s expected to last at least one year or could potentially result in death, you may be eligible for Social Security disability benefits. However, qualifying for disability from another source or having a statement from your doctor, doesn’t mean you will be eligible for disability benefits from Social Security.
Additionally, people, including children, who are disabled and have little income or resources, may be eligible for disability payments through the Supplemental Security Income (SSI) program.
We’re here to help! Todd R. Renda of Renda Law in Tacoma, WA, specializes in helping people who are applying, or who have applied and been denied, Social Security Disability benefits. This is money you have worked hard for and You Deserve!
Contact us today to schedule a FREE consultation to discuss your situation and how we can assist.