For example, if you wish to calculate a monthly average number of hours worked and use six months of data, divide the total hours your employee works in six months and divide the result by six to determine the monthly average hours of work for the employee.
Social Security disability payments may be includable in taxable income and still not increase the tax you pay. A lump-sum retroactive payment of Social Security Disability Insurance (SSDI) may be includable in taxable income, depending on the amount and your other income and deductions.
Thatâs because, if your âcombined incomeâ is in the applicable range, each additional dollar of income is not only taxed at your regular tax rate, it also causes an additional $0.50 or $0.85 of Social Security benefits to be taxable. Depending on how high your âcombined incomeâ is in a given year, your Social Security benefits could be nontaxable or partially taxable (with a maximum of 85% of them being included in your taxable income for the year).