Monthly Archives: February 2013

Attorney Byron P. David Finalist for Best Attorney in the 2013 Horry Independent’s Reader’s Choice Awards

We are proud to announce Attorney Byron P. David has been chosen by The Horry byron david, conwayIndependent readers as the finalist for Best Attorney.  This is the third consecutive year Attorney David has been a winner under the Best Attorney category.

“I am honored and overwhelmed to be a finalist for this award again.  The Reader’s Choice Award is one of my favorites to receive, as the people of Horry County are the judges.” says David.  “It is reassurance that we are doing a great job and people are pleased with our service.”

The annual poll is opened to Horry Independent readers and only allowed one vote per person, making this contest a true representation of their opinions collectively.  Over the years, The Reader’s Choice Awards has become one of the most popular and well-read special editions The Horry Independent has ever published.

Congratulations to Attorney David for being The Horry Independent’s 2013 Reader’s Choice Finalist for Best Attorney!

Do I have to pay taxes on my Social Security Disability Benefits?

byron david; conway; byron p. david; conway lawyerSome people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.

No one pays federal income tax on more than 85 percent of his or her Social Security benefits based on Internal Revenue Service (IRS) rules. If you:

  • file a federal tax return as an “individual” and your combined income* is
    • between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
    • more than $34,000, up to 85 percent of your benefits may be taxable.
  • file a joint return, and you and your spouse have a combined income* that is
    • between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
    • more than $44,000, up to 85 percent of your benefits may be taxable.
  • are married and file a separate tax return, you probably will pay taxes on your benefits.

*Note:

Your adjusted gross income

+ Nontaxable interest
½ of your Social Security benefits
= Your “combined income

Each January you will receive a Social Security Benefit Statement (Form SSA-1099) showing the amount of benefits you received in the previous year. You can use thisBenefit Statement when you complete your federal income tax return to find out if your benefits are subject to tax.

If you do have to pay taxes on your Social Security benefits, you can make quarterly estimated tax payments to the IRS or choose to have federal taxes withheld from your benefits.