SOCIAL SECURITY 2020 UPDATE SSI FOR NYS RESIDENTS Individual $870/month Couple $1,279/month MAXIMUM TAXABLE EARNINGS Social Security (OASDI only) $137,700 QUARTER OF COVERAGE Earnings Required $1,410/quarter SOCIAL SECURITY DISABILITY THRESHOLD Substantial Gainful Activity (SGA) Non-Blind $1,260 Blind $2,110 Trial Work Period (TWP) $910/month COST-OF-LIVNG ADJUSTMENT (COLA) For December (payable in January 2020) 1.6% MAXIMUM… Read More »
Posts Categorized: Social Security
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Featured Post:
The Trump Policy Analysis Group (TPAG) – Focusing on Older Americans and those with Special Needs
The Trump Policy Analysis Group (TPAG) [1] has convened to consider probable changes in law that will affect older Americans and those with special needs. Initial TPAG focus is on entitlements, public benefits, tax, special needs planning, and veterans’ benefits. We used a three-fold analysis: stated policy (declared Trump policies and those of the Republican Congressional… Read More »
SSI And The “Able” Account
Kelly is 24 years old. She is on the autism spectrum and is receiving SSI. She is doing her best to be independent, but the monthly stipend is limited and it is difficult to live on her own with minimal funds. What is her best option to keep her benefits and have the means to… Read More »
WHAT IS MY TRUST IDENTIFICATION NUMBER AND WHY WOULD I NEED AN EMPLOYER IDENTIFICATION NUMBER (EIN) FOR MY TRUST?
A trust identification number is a number that identifies a trust, like any other legal entity, for tax purposes. You need a trust identification number in order to put assets into your trust. Your trust identification number will always be either 1) the Grantor’s Social Security Number, or 2) a number issued by the IRS,… Read More »
Social Security Disability: It’s a Marathon, Not A Sprint!
This article is written by Crysti Farra, Esq., a guest author for the Russo Law Group P.C. blog. Social Security, as a program, began in 1935; however, it took more than 20 years before Social Security Disability Insurance (SSDI) was added under the Eisenhower administration. Even still, those in the population who were younger than 55,… Read More »
2018 Social Security Figures
This update provides new information for 2018 Social Security taxes and benefits. This is the third of a four-part series of updates for 2018. SSI for NYS Residents: Individual Couple $837/month $1,229/month Maximum Earnings Taxable Social Security (OASDI) $128,400/year Quarter of Coverage Earnings Required $1,320/quarter Social Security Disability Threshold Substantial Gainful Activity (SGA) Non-BlindBlindTrial Work… Read More »
Does Social Security Recognize a Power of Attorney?
Social Security and Supplemental Security Income (SSI) benefits are incredibly important for many senior citizens and individuals with special needs. It can be devastating if there is a disruption in these benefits of any kind. In order to avoid disruption or mitigate any issues regarding these federal payments, it is important to make sure that… Read More »
Social Security Beneficiaries Can Expect a 2 Percent Increase in 2018
In 2018, recipients of Social Security will see a 2 percent increase in benefits due to the rise of cost-of-living. This adjustment in cost-of-living is the highest of its kind since 2012. Last year, there was only a .3 percent rise and in 2016, there was no change at all. Although this increase is good… Read More »
Do I Qualify for Supplemental Security Income?
Social Security is a retirement benefit for individuals who are working and contributing to the social security system. However, it also has a benefit for disabled workers and disabled individuals. Supplemental Security Disability Social Security Disability (SSD) is a plan that functions under the Social Security umbrella. If you’ve contributed to the Social Security system,… Read More »
Benefits for Widows and Widowers: Spouse’s Social Security
Widows and widowers are entitled to Social Security benefits from their deceased spouse equal to the collection amount at the time of death, or the potential entitlement amount if the spouse had not yet applied for the benefit. In order to best advise their clients, accountants and attorneys should understand the laws that govern this… Read More »
2017 Social Security Update
This update provides new information for 2017 Social Security taxes and benefits. This is the second of a four-part series of updates for 2017. SSI for NYS Residents: Individual Couple $822/month $1,207/month Maximum Earnings Taxable Social Security (OASDI) $127,200/year Quarter of Coverage Earnings Required $1,300/quarter Social Security Disability Threshold Substantial Gainful Activity (SGA) Non-Blind Blind Trial… Read More »
How Can a Crowdfunding Account Affect a Person on Medicaid and SSI?
Over the past couple of years, when on social media, I have seen more and more crowdfunding and personal fundraising efforts. Crowdfunding sites such as GoFundMe and Kickstarter cut out the middleman of fundraising, allowing the person or organization in need to appeal directly to the general public. In many cases, crowdfunding takes place when… Read More »
Organizational Apps That Help You Move & More!
Our practice produces many important documents for elderly clients. Clients may forget where these documents are located within their home, lose track of the documents’ location over the course of a move, or may pass on without sharing the actual documents (or their location) with their children, executor, or guardian. There are a few smartphone… Read More »
Caring for a Child with Special Needs? You May Be Eligible for Early Social Security Benefits
Caring for a child with special needs requires many resources, one of which may be Social Security Disability Insurance (SSDI). When a parent of a child with special needs retires and begins receiving Social Security retirement benefits, the child may qualify for SSDI. A lesser known provision in the Social Security regulation allows the spouse… Read More »
Rest Assured, Your Social Security Benefit Information Is Still Readily Available
No matter how much we try to focus on taking things day by day, the uncertainty of the future always seems to linger in the back of our minds. We worry about things like: If I get hurt and can no longer work, how much will I receive in Social Security Disability? Once I decide to… Read More »
Am I Entitled to Supplemental Security Income?
The Supplemental Security Income program, known as SSI, is a federally administered program. Unlike Medicare or Medicaid, SSI is a federal welfare program that pays monthly cash benefits to individuals who fall within 1 of 3 categories:
Our Knowledge Is Your Knowledge
When speaking with clients about the complicated Medicaid rules, availability, and exceptions, they often reply something like, “Wow, there’s so much to know.” Clients come to us because we know the rules, and more importantly, we know the exceptions.
At Team Russo, we do our part to Keep our Clients Safe and Protected.