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Home > Social Security Attorneys > Social Security Tax Attorney

Social Security Tax Attorney

Benefits are funded through the FICA tax on wages and salaries. The Social Security portion of this tax is 6.2% of the first $90,000 (in 2005) of an employee's income paid directly by the employer, and an additional 6.2% of the first $90,000 (in 2005) deducted from the employee's paycheck, yielding an effective rate of 12.4% of an employee's income. Self-employed people are responsible for the entire tax. The income cutoff is adjusted yearly for inflation and other factors. The combined effective tax rate of these two federal programs is 15.3%. Contact your Social Security Tax Attorney for more clarification regarding this matter.

If an employee pays excess taxes, due to multiple jobs being held by the employee during a single calendar year, the employee will receive a refund of the excess taxes withheld from their paychecks on their Form 1040. The excess taxes paid by employers are not returned to the employers. Social Security Tax Law Attorney will help you to understand about your excess tax paid.

The Social Security taxes you and other workers pay into the system are used to pay for Social Security benefits. You pay Social Security taxes on your earnings up to a certain amount. That amount increases each year to keep pace with wages. In 2005, that amount is $90,000. However, there is no ceiling on the Medicare tax. You must continue to withhold and to pay the Medicare tax regardless of how much you pay an employee.

The entire amount of taxes you pay for Medicare goes to a trust fund that pays for some of the costs of hospital and related care of all Medicare beneficiaries. Medicare is managed by the Centers for Medicare and Medicaid Services, not Social Security. Ask your Social Security Tax attorney for more information.

When you work, 85 cents of every Social Security tax dollar you pay goes to a trust fund that pays monthly benefits to current retirees and their families and to surviving spouses and children of workers who have died. The other 15 cents goes to a trust fund that pays benefits to people with disabilities and their families.

From these trust funds, Social Security also pays the costs of managing the Social Security programs. The Social Security Administration is one of the most efficient agencies in the federal government Of each Social Security tax dollar you pay, Social Security spend less than one penny to manage the program.

If you are having problems regarding your Social Security Tax payments it is strongly advice that you contact your Social Security Tax Attorney for help and assistance about your problem. Tax or money matters are very critical issues that require proper awareness when you are in troubled with them. Every citizen is bound to be aware of their rights especially that which concern the basics of life. Taxing is one of them. If you are faced with predicaments with your tax and you don’t know how to solve them, the best you can do is to look for social security tax attorney who can help you find solutions to recover your problems. He can help you gain full understanding of your case and at the same time can represent you to litigation and will get you to a positive case result.

Social Security Tax Law Attorney

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