Worker’s benefits are determined by age, earnings and the number of contributing years into social security. There are however, certain eligibility requirements that need to be met before the spouse can collect disability benefits from the worker’s social security account. In some cases, if the spouse is eligible for retirement benefits on their own social security records or other retirement program benefits, the disability benefit based on the worker’s social security may be reduced.
The amount entitled by the spouse under the worker’s disability benefit may be combined with their own retirement program benefits. Depending on conditions, a spouse may receive monthly benefits up to 50 percent of the worker’s eligible benefits without any change to the worker’s allotted benefits. This monthly benefit is in addtion to the worker’s monthly paid benefits.
If you apply for Supplemental Security Income benefits and have a limited income or resources such as properties, Supplemental Security Income is a separate benefit from Social Security contribution taxes. Monthly payments are made to 65 or older recipients who are blind or disabled. Income and asset properties may not be considerations in determining wealth, in this review. For example automobiles or homes may not be counted as properties or resources affecting the monthly amount. It is recommended that Social Security Insurance Offices be contact for assistance.
Taxes don’t stop just because you are retired. Statistics claim that less than one third of participants pay taxes on their benefits. Individual’s filing federal tax forms with incomes of more than $25,000 will be taxed on benefits. Joint filings of federal tax returns of incomes higher than $32,000 will be taxed on social security benefits.