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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
May 12, 1983
Page
14
Commerce Clearing House explains the 1983 Social Security Amendments affecting SECA tax and HI. It notes self employed levy two taxes on net earnings, changing rates from prior levels to a combined 9.35 percent in 1983 and rising to 9.7 percent in 1984 for self employed individuals.
The Social Security Amendments of 1983 raise OASDI HI and FICA taxes with accelerated rates and new credits for self employed persons. For 1984 a 2.7 percent SECA credit reduces net self employment tax to 11.3 percent, while employees receive a 0.3 percent FICA credit lowering their rate to 6.7 percent. Early retiree credits also change, restricting elderly credits for under age 65 retirees unless disability criteria are met.
The text details how disability income is taxed and how elderly and disabled credits adjust base amounts for various filing statuses. It notes the elimination of the $2,500 disability exclusion after 1982 and introduces a 15 percent tax credit for disabled individuals under 65 with eligible disability income. It also mentions the US commitment to the metric system since 1875 and metric adoption since 1893, contrasting with its everyday life usage.
Jameane Dance Studio in Lewistown expands offerings to include ballroom dancing and a four week country western class available in group or private formats. Operated by Jeanne Williford and James Haire, the studio promotes social dancing and physical fitness using the Fred Astaire Manual of dancing. Contact 11328 Bottomley Road Thurmont MD 21788 for details.
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