Do They Take (SS)FICA & Medicare?

Reply #16

zerxfi — Fri, 28 Jan 2011 13:22:08 GMT

exactly

Reply #15

KY Floyd — Fri, 28 Jan 2011 07:08:22 GMT

If you've won a lawsuit and have trouble collecting you can file the judgment with the county clerk you can seek a lien against real property or have the sheriff seize other property, such as cars or bank accounts, so one of the government services available is clearly to have them act as a collection agency at the county level. That's really not much different than having the county loan you a court room, judge and jury to prove somebody owes you money in the first place. I wouldn't expect the... [ More ]

Reply #14

four4me — Thu, 27 Jan 2011 20:52:34 GMT

I hear someone won like a million bucks and ssi cut off their checks even though the guy owed more than what he received after taxes. This was like 20 yrs ago.

VA disability checks might suffer the same loss if you win big.

This is another reason to have a lawyer go over your finances before you claim your winnings.

The laws and rules change often enough that it's should be a requirement to have your personal finances looked over before you claim a jackpot. Since winning a jackpot of l... [ More ]

Reply #13

ca-dreamin* — Thu, 27 Jan 2011 20:00:01 GMT

I think what Tarzan is asking is if you receive disability checks (I'm assuming thru SSI) how big of a jackpot could you win before SSI says sorry your no longer eligible for benefits.

Reply #12

four4me — Thu, 27 Jan 2011 19:35:16 GMT

Ok so your saying if i am listed as being 100% physically disabled and they catch me unloading a truck and building a house with cinder blocks. That its ok and i should be able to keep my disability checks.

It's fraud if you get caught.

Reply #11

Tarzan — Thu, 27 Jan 2011 01:51:56 GMT

You can lose it if convicted of a crime-but these things? I never heard of such.

Reply #10

ca-dreamin* — Thu, 27 Jan 2011 01:44:59 GMT

Like.........totally HAHAHAHA

Reply #9

four4me — Wed, 26 Jan 2011 21:36:20 GMT

you still owe the feds and state their share.

Now heres a kicker for you to ponder if your totally disabled and they catch you playing volley ball on the beach. riding motorycles or doing any wacky activity, your disibility checks might stop and you'll be in court posibly having to pay back every penny you received.

Reply #8

Tarzan — Wed, 26 Jan 2011 20:22:11 GMT

Okay--what if you are totally disabled,and win ---at what amount can it affect your check

Reply #7

Stack47 — Wed, 26 Jan 2011 20:14:35 GMT

Glad you checked in because I was asked a question about winning a jackpot that I'm not sure how to answer. Some people say the lottery will check for judgments against jackpot winners and deduct it from the winnings.

I can understand legislation that requires the lottery to check for unpaid child support or unpaid state taxes, but I don't think there are any laws or rules requiring state lotteries to act as a collection agency.

Reply #6

KY Floyd — Wed, 26 Jan 2011 19:38:26 GMT

You're probably looking at games where that $1 million prize doesn't really exist. The real prize for the vast majority of games that advertise a $1 million is your choice of about $500k now or $50k every year for 20 years. The maximum federal tax is 35% and the highest state tax would bring the total to about 45%, so you net at least 55% of whatever you win.

The Bill of Rights offers many fairly explicit rights to the public, but we've still spent a great deal of time arguing over the e... [ More ]

Reply #5

THRUST — Wed, 26 Jan 2011 17:12:56 GMT

Why do people always end up with less than half out of a $1,000,000?

Even in my state minus Fed/State taxes will leave you with more than half...but I have read about a few people getting less than half??

Money is no joke.

Seriously...why does it always seem people get less and less

Reply #4

zerxfi — Wed, 26 Jan 2011 15:33:21 GMT

don't worry. you'll still have enough money left over to pimp out the Mystery Machine

Reply #3

joker17 — Wed, 26 Jan 2011 14:40:16 GMT

Thanx for the laughs this morning....I'm sorry, I just can't help it...

The first thing that popped in my head when I started reading your post was Shaggy from Scooby-Doo.....lol

Reply #2

sully16 — Wed, 26 Jan 2011 13:30:50 GMT

But, they may take any child support or overdue student loans and in some states any welfare assistance.

You can contact your state lottery office and they will give you a list of all exceptions.

Reply #1

ameriken — Wed, 26 Jan 2011 07:33:12 GMT

No, SS and medicare are only on wages. You only have to worry about Fed/state taxes.

Do They Take (SS)FICA & Medicare?

THRUST — Wed, 26 Jan 2011 06:30:57 GMT

Like if you win a Jackpot or a large enough prize...do they take out Social Security(FICA) Medicare along with Federal Taxes State Taxes?

Like if I won $1,000,000...I would owe 35% Federal Tax 4% State(VA) Tax...but then would SS(FICA) Medicare be taken out too??? Cause that would leave even less out of my million dollars.