Happy Tax Day! Social Security….did you know?

As we have reached the deadline to file taxes today, one of the many taxes we pay are social security taxes. Do you know where social security taxes go?

The money is kept in two trust funds – one for retirees (the Old Age and Survivors Insurance Trust Fund) and one for people who are unable to work due to a disability (the Disability Insurance Trust Fund). The trust funds can only be used to pay Social Security benefits; the funds cannot be used to pay for other government programs.

Want to learn more? Go check out USA Facts. USA Facts is a great free, well organized resource about the finances of the USA that I recently discovered that was founded (and funded) by Steve Ballmer.

ARE YOU READY TO TAKE YOUR PRACTICE TO THE NEXT LEVEL?

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