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 Life Insurance Co. Recommendations?
Can anyone recommend a good life insurance company that they have worked with? I think I am looking for a term life insurance policy. Thank you to anyone who responds!...


 What car insurance company has the cheapest rates in NY state?
...


 Would I be able to sue someone in this situation?
My wife was driving her truck and this guy went past a stop sign and blind sided her on the right side of her truck. Turns out the driver had taken the car from his workplace (he works at a bodyshop) ...


 How stressful is the insurance business?
Is the pay generally good? Is it worth going into?...


 Why should we pay CAR insurance?
I know it is made to protect us from being sue, I understand this. BUT if we are MADE to pay insurance to drive a car then the Car insurance companies should be MADE to include Car replacement as a ST...


 Life insurance??
Can my 84 year old grandfather get life insurance, he has no medical condition. He doesn't own a home and obviously doesn't work. Is there any policy out there for him? How about my 74 year ...


 How does this affect my insurance?
Can someone tell me how my car insurance will be affected in this instance:

I was a named driver on my dad's car (my dad was the policy holder). I accidentally went into the rear of ...


 I need to know what term life insurance is?
...


 What are some affordable health insurance plans?
Besides medicare, what are some cheap, affordable insurance plans in the hudson valley, ny?...


 Are there any Auto Insurance companies that you don't have to pay upfront?
Hi,
I was wondering if there are any auto insurance companies that you don't have to pay upfront. I am seeking car insurance because I had an accident this January and I was at fault. I am ...


 How much would this kind of life insurance policy cost?
I am a female. I am in the age range of 20-25. I want $100,000 worth of coverage. I smoke, but I have no other health issues. How much would it cost me? Also, how much would it cost me for a $500,000 ...


 What is the future of the Long Term Care insurance industry under Obama? Will national healthcare cover LTC?
Long Term Care insurance protects families from the costs of in-home care givers, assisted living facility costs, and nursing home costs that will often run from $50,000 to over $100,000 per year, ...


 Will homeowners insurance cover medical bills for occupants?
Son ran over foot with lawnmower and had to have surgery....


 How do I find out if an insurance broker is someone reputable before I pay?
I am getting a new insurance policy on my home and I want to make sure I am giving my money to someone that will not dissapear on me. Is there a checklist for things to lookout for before paying the ...


 What should a new home owner consider when purchasing insurance coverage on the new home?
I am unsure what all I should be asking the insurance companies about their coverages. Can you give me some tips?...


 Who has the cheapest home insurance policies in California?
Time to renew and I need to start shopping around.
Additional Details
House is worth 1.4 mil. I'm having a hard time with ins. bec.even though it was built in 1927, I purchased it ...


 Insurance beneficiary?
i have a friend who is recently deceased.on her insurance policy she had her mother listed as beneficiary but her mother is also deceased she has a sister who lived in the home with her is there any ...


 What does 15/30/5 mean on my automobile policy under UIM/UM/Liability?
My state requires a 15/30/5 UIM/UM/Liabilty amount. Does anyone know what this means? Does it have to be higher if the vehicle(s) are owned by a company?
Additional Details
My state(New J...


 How do people get Insurance?
I have a learning disablity In some things, so my parents don't tell me anything. I'm 21 years old. they think I am stupid and even make fun of me. so the only way I really learn things Is ...


 Can an employer drug test a minor?
Im wanting to get a job as im 16 and need to get a car but I have some weed in my system..I have a few people that say you cant drug test minors...Can anyone verify?...



bostontransplant
Do I need to pay social security on alimony? I am self- employed.?
                     
 




stephenweinstein
Rating
No, but you do need to pay self-employment tax (15.3% of "net" earnings, which is 92.35% of the total of all schedule C's, schedule C-EZ's, etc.) on your self-employment income. Most of the self-employment tax goes to social security. You also have to pay income tax on both your self-employment income and your alimony.

Your self-employment income is including in your earnings record and is used to calculate your eligibility for social security on your own earnings record. If you were married long enough, then you may qualify for benefits based on your ex-spouse's earnings record.


Barkley Hound
Rating
No social security, just federal and state income tax. Social Security tax is only on earned income.

Here are the general guidelines:

Alimony payments received from your spouse or former spouse are taxable to you in the year you receive them. Because no taxes are withheld from alimony payments, you may need to make estimated tax payments or increase the amount withheld from your paycheck.

Alimony payments you make under a divorce or separation instrument are deductible if certain requirements are met. Any payments not required by such a decree or agreement do not qualify as deductible alimony payments.

Child support is never deductible. If your divorce decree or other written instrument or agreement calls for alimony and child support, and you pay less than the total required, the payments apply first to child support. Any remaining amount is then considered alimony.
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curmudgeon
Rating
no


Sparkles
No, you will not have to pay social security on alimony. Even if you weren't self employed, you still would not have to pay it.


Judy1
No, you don't. You do have to claim it on your tax return though, and pay income tax on it, but not social security.


mbrcatz
It's not EARNED income, so no. You only pay FICA on earned income.

Yes, it's taxable from an income tax point of view.


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