Publisher's Synopsis
The 2016 Edition of Social Security Explained provides a succinct, comprehensive, and detailed explanation of the federal old-age, survivor's and disability insurance programs under the Social Security Act.
Social Security Explained, 2016 Edition covers:
- Who is covered by the Social Security system
- Liability for Social Security tax
- How a worker acquires and#34;insured statusand#34; required for benefit eligibility
- The conditions of entitlement by a worker, self-employed person, and spousal and child beneficiaries to the various kinds of Social Security benefits
- The taxation of benefits
- Strategies for increasing benefits and managing attendant tax consequences
In addition to thorough analysis of the applicable laws, regulations and administrative rulings, Social Security Explained, 2016 Edition includes:
- The latest earnings base for the Social Security tax and Medicare portion of the tax, as well as the annual earnings or retirement test amount
- Discussion of the Additional Medicare Tax that went into effect in 2013
- The formula for the calculation of the maximum total amounts a family can receive in 2015 and prior years
- Analysis of the application of Social Security law to same-sex spouses
- And much more!
