Newspapers / State Port Pilot (Southport, … / April 13, 1955, edition 1 / Page 2
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ARE YOU 01E OF THEM? IMPORTANTCHANGES in 1 m social Security Retain For Future Reference R FARM FAMILIES IF YOU ARE A SELF-EMPLOYED FARM OPERATOR If you are a self-employed farm operator with earning's of $400 or more in a year, you should get a social security card, unless you already have one. The place to get it is your nearest social security dis trict office. There is no charge. If you once had a card, but lost it tell your social security office that you want a duplicate. If it is not convenient for you to go to your1 district social security office in person, you can get an application blank at your post office and get the card by mail. The self-employment tax on your farm earnings applies to taxable years ending after 1954. If your first report is for calendar year 1955 you will make the report early in 1956 as part of your income tax return. It is highly important that you show your social security account number on your report, as that num ber identifies your individual account and makes it possible to c 4it your account correctly. Your bene fits are figured from this account. The amount you report is your net earnings—or profit—after v u. subtract your farm expenses from your <.os income. But if your gross income is $1800 or less, and you report on the cash basis, you have the chon between reporting your actual net earn ings or reporting half of the gross income. You can report either way. If your gross income is over $1,800, you must figure your actual not earnings, if these net earn ings are less than $90o, you have a choice. You may report either the actual amount or $900. The self-employed person pa vs 3 percent on his own ear nine's up to earnings of $1,200 in a year. BENEFITS PAYABLE TO THOSE QUALIFYING AFTER AUGUST, 1954 S' RVn OKS Average monthly wage* $ l r> 100 150 200 250 300 S50 Worker's monthly benefit $30.00 50.00 68.50 78.50 88.50 98.50 108.50 Worker and wife s 15.no 82.50 102.80 117.80 102.80 1 17.80 102.80 Widow, child, etc. $30.00 11.30 51.40 55.90 6(5.40 73.90 81.40 Widow and 1 child $45.00 82.60 102.80 117.80 1M2.80 1 17.80 162.80 Widow and 2 children $ 50.20 82.00 120.00 157.10 177.20 197.10 200.00 • Alter drop-out of up to 5 years of lowest (or no) earnings OTHER CHANGES MADE BY 1954 SOCJ SECURITY AMENDMENTS 1. Increases benefits to all present and future r^ vivors. This change was effective Sept. 1, therefore! ober were in the new amount. This increase was ay quests for it. 2. Permits employed and self-employed beneficia a year without loss of social security payments. A to receive all his payments regardless of the amour| January 1st, 1955. workers and to their dependents and sur i .ecks received by beneficiaries early in Oct |;,:ic so beneficiaries did not have to file re minder age 72 to have earnings up to $1,200.00 iiciary 72 years of age or over will be able may be earning. This change is effective 3. Extends coverage of the program to about 10.M 30 more gainfully employed persons. This in cludes self-employed professional engineers, account® architects, funeral directors, ministers, and domestic workers, and employees of state and locaBwernments subject to certain qualifications. The changes in coverage are effective January 1st J35. 4. Raises the earnings based from $3,600 to $4.2® year. Under the old law only the first $3,600 of earnings in a year could be counted towards bejts. The new law covers earnings up to $4,200 in a year which will eventually provide for a benefjicrea.se for workers retiring in future years. This change is effective January 1st, 1955. 5. Permits workers to drop out years of low ear| Under the old law your average earnings could be ings or no earnings at all. The new law permits a no earnings in the figuring of an average monthljj based. This so-called “drop-out” applies to all wo] August of 1954. Some persons no-w receiving \, have now, or if they acquire at any time, 1% ye; ;s or no earnings in computing their benefits ed down by year in which you had low earn tker to drop out up to 5 years of lowest or age on which all benefits payments will be [•s becoming eligible for benefit payments after Its may qualify ror the drop -out of they *i covered work after June, 1953. This change was effective on all benefits computed after September®, 1954. 6. Preserves the rights of totally disabled work rs. Jider this provision, a workers earnings re cord can be “Frozen” and he will not suffer a reluetiji in or loss of his benefit rights because of an extended period of no earnings due to total pro :ige« disability. It should be especially noted that this does not provide for such disability pay c ent® for workers under age 65, but only serves as a “freeze" of the earnings record. This change is eiffttiye Jan. 1, 1955, and applications may be filed after that date. 7. Provides for reduced work requirements for orlwrs who died after June 30, 1940, and before Sept. 1, 1950. Under the new law the dependent survivors of these people may collect benefits be ginning Sept. 1954 if the deceased worker or servi man had at least a year and a half of work under Social Security before he died. This year and a. half may be at any time after 1936. This change was effective September 1. 1954. VOTE: Dependents of Survivors of servicemen who died within the above period may be eligible for benefits even though the deceased never had a So ■:.0 Security account number, and never worked in covered employment just as long as he had a year and a half of military service and had received a discharge under honorable conditions. I N. A. AVERA, DISTRICT MANAGER OF THE WILMINGTON, N. C„ SOCIAL SECURITY OF FICE, ANNOUNCES A SUPPLY OF BOOKLETS ABOUT THE 1954 CHANGES IS NOW AVAILABLE. ORDER YOURS BY MAILING COUPON OR POSTCARD. FOR COMPLETE IN FORMATION, CONTACT THE OFFICE AT W.LMINGTON, H. C., IN PERSON OR BY MAIL. SEND THIS COUPON FOR FREE INFORMATION* I SOCIAL SECURITY ADMINISTRATION Room 125-130, Custom House B!d’g. Wilmington, N. C. PRINT NAME and ADDRESS BELOW: NAME . .. ADDRESS . TOWN .... PLEASE SEND ME A FREE BOOKLET ABOUT— 1. Social Security for Farm Families. 2. How to Estimate Payments. 3. Earnings While Drawing Benefits. 4. Disabled Workers Under Social Security. 5. Coverage of Household Workers. 6. I Would Like to Apply For a Social Security Card. 7. Other Questions . *IF SIXTY-FIVE OR OVER, PLEASE SHOW SOCIAL SECURITY NUMBER. Date Of Birth IF YOU WORK ON A FARM FOR CASH WAGES If you do farm work for others and get cash pay of $100 or more in a year from one employer, you must have a social security card. If you have never had one, or if you had one but lost it, get in touch with your nearest social security office. They will give you a card without charge. Show your card to the person you work for, so that he can copy the name and number from it for his records. He will keep back two percent of your cash pay for social security, add the same amount as his share of the tax, and send the total to the District Director of Internal Revenue with his social security report. This report must show your name and social security number in order for you to be sure of getting the proper credit toward benefits. r» 4 * Payments to a farm worker in any form other than cash do not count for social security purposes and your employer will not report them. If your cash pay from farm work for one employer is less than $100 in a year, he does not report your earnings and there is no social security tax. If you earn $75 in a year from one employer and another $75 from a second employer, these wages would not count toward social security. But—if you earn $100 from one and $150 from the other, both employers will report your earnings for social security, and you will get credit for the total. Whenever your pay from any farm employer is less than $100 in a year, he should return to you any amount he took out of your- pay for social security for that year. If your earnings do count, be sure you have a social security card and that your employer copies your full name and social security number directly from that card to his records. He must -how your correct name and number on his report if you are to be sure of getting the proper credit toward bene fits. Until 1960 the social security tax on wages is 2 percent each for employee and employer on earnings up to $4,200 a year. Farm operators and any other persons, regardless of age, who will be covered in 1955 or after may secure Social Security accounts numbers by com pleting the application form S.S.-5 available at any Post Office. Your Post Office will also provide the address of the nearest Social Security Office which is there to serve you. SPONSORED BY THESE PUBLiC-SPIRSTED, PATRIOTIC FIRMS Lcnn!e Evans Censrcl Merchandise AG!!, N. C. Win4I4cv/ Station GOOD GULF PRODUCTS R. L. SULLIVAN, Proprietor WINNABOW, N. C. A. P. Henry Store ESSO GASOLINE-GROCERIES A. P. HENRY, JR., Proprietor WINNABOW, N. C. Elmore Motor Co. Authorized Chevrolet Dealer BOLIVIA, N. C. mL'Js* G. W. Kirby & Son General Merchandise SUPPLY, M. C. Ennis Long Service Station Good Gulf Products SUPPLY, N. C. Southport Building & Loan ASSOCIATION W. P. JORGENSEN, Secretary R. Galloway i General Merchandise SUPPLY, N. C. L. C. Bsbson General Merchandise FREELAND, N. C. State Port Pilot “YOUR COUNTY NEWSPAPER" SOUTHPORT, N. C.
State Port Pilot (Southport, N.C.)
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April 13, 1955, edition 1
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