Disability Tax Benefits
- Thread starter vylise92
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vylise92
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There is no such benefit that I know of.
Social Security taxes at about 34000 for a single and a x dollars for joint etc.
If the SSI or SSdI income is low enough there is no tax return required. HOWEVER... if for example you gained a 1099 or forms that showed other income for the year, you need to file and see if there is a tax on that. (Standard deduction is 12200 single this year) That includes bad debt charged off against you by collections and send you a form for the charged amount to be treated as income for the year.
You can and usually do work as you are able over and beyond benefits. However after a certain amount your SS Check will be cut a certain amount for every dollar earned at work whatever that is. Taxes are just part of working. The Stimulus checks are not considered taxable for the most part, but its not good for the Nation going ever deeper into debt that cannot be repaid. However unemployment benefits are taxable. Those who played the Wall Street Markets or are paid as owner operator under 1099 have other tax problems.. a tax preparer will be needed for this.
It would maybe be easier for others if the OP was to explain what benefits he or she is referring to. When I was trucking our income was large enough to make taxes pretty important for the year each year however there were special charges against those taxes in those years which do not apply today to truckers. (Per Diem, flat rate daily)
That does not mean there is no tax paid for the year. Here in Arkansas as homeowners we paid a property tax on land and house etc and also a personal tax on any and all vehicles and other assets like mobile homes and buses etc to the Revenuer (Yes we still use that word here) As a disabled homeowner you can freeze whatever your property tax is at a certain rate for many years so that is one thing that helps some. Here we paid a couple hundred dollars a year so its not that much. Back home we would have paid thousands if not tens of thousands so it makes a difference where you live.
Some states have no tax at all so it's advantageous to be there.
Social Security taxes at about 34000 for a single and a x dollars for joint etc.
If the SSI or SSdI income is low enough there is no tax return required. HOWEVER... if for example you gained a 1099 or forms that showed other income for the year, you need to file and see if there is a tax on that. (Standard deduction is 12200 single this year) That includes bad debt charged off against you by collections and send you a form for the charged amount to be treated as income for the year.
You can and usually do work as you are able over and beyond benefits. However after a certain amount your SS Check will be cut a certain amount for every dollar earned at work whatever that is. Taxes are just part of working. The Stimulus checks are not considered taxable for the most part, but its not good for the Nation going ever deeper into debt that cannot be repaid. However unemployment benefits are taxable. Those who played the Wall Street Markets or are paid as owner operator under 1099 have other tax problems.. a tax preparer will be needed for this.
It would maybe be easier for others if the OP was to explain what benefits he or she is referring to. When I was trucking our income was large enough to make taxes pretty important for the year each year however there were special charges against those taxes in those years which do not apply today to truckers. (Per Diem, flat rate daily)
That does not mean there is no tax paid for the year. Here in Arkansas as homeowners we paid a property tax on land and house etc and also a personal tax on any and all vehicles and other assets like mobile homes and buses etc to the Revenuer (Yes we still use that word here) As a disabled homeowner you can freeze whatever your property tax is at a certain rate for many years so that is one thing that helps some. Here we paid a couple hundred dollars a year so its not that much. Back home we would have paid thousands if not tens of thousands so it makes a difference where you live.
Some states have no tax at all so it's advantageous to be there.