Ah, got it. Since I am a slacker it never applied to me.Folks who are still working, and will end up paying income tax on SS income, can have taxes withheld from their monthly benefit check.
Ah, got it. Since I am a slacker it never applied to me.Folks who are still working, and will end up paying income tax on SS income, can have taxes withheld from their monthly benefit check.
Ah, got it. Since I am a slacker it never applied to me.
Carried my freight and the freight of countless others for far too long. Since I am in fine shape, I let the others carry their own damn freight now.Hazard of being one of those productive citizens who carry the freight for others ... LOL
Carried my freight and the freight of countless others for far too long. Since I am in fine shape, I let the others carry their own damn freight now.
What I meant was, I could work (and pay a lot more taxes as a result) but don't need to so those are taxes I don't pay anymore. I still pay taxes but not nearly as much as I would if I worked also.Tried, but the IRS didn't agree ...
My SS check went up $23. That is after a $7 Medicare Ins. increase and an $8.5 withholding tax increase. Not sure why the withholding increased so much.
Withholding? What withholding? You must be special. Nothing is taken out of my SS except the insurance premiums.
After years of 0% or .2% cost of living raises, we retired folks are finally getting a whopping 2% increase starting January 1st.
I just received a letter from the SSA showing my new benefit amount. We are getting a 2% raise, but here's the kicker. The cost of medicare increased by....wait for it...exactly the same amount as the increase. For both me and the wife. That is a net increase of exactly 0 over last year. There was no explanation of the medicare increase in the letter
Why do they even bother.
Interesting. I have a pension from a previous employer (Military retirement) and it does not affect my SS. 85% of my SS income is taxed. Are you not at full retirement age?Due to my pension from a previous employer my SS was cut in half and is 100% taxable.
It could/should if your total adjusted gross income is above a certain level. Or is your pension totally tax free? I have never had one so i don't know.Interesting. I have a pension from a previous employer (Military retirement) and it does not affect my SS.
I applied for SS at age 62½ and continued to work for another year. My SS was reduced by $1 for every $2 I earned over a certain amount in wages. It was reduced by that amount not taxed by that amount. There is no reduction in SS benefits for additional income once you reach full retirement age.It could/should if your total adjusted gross income is above a certain level. Or is your pension totally tax free? I have never had one so i don't know.
What gets my SS taxed is my RMD from tax-deferred retirement accounts.
But, your SS can be subjected to FedIncTax depending on your total adjusted gross income even if not still working.I applied for SS at age 62½ and continued to work for another year. My SS was reduced by $1 for every $2 I earned over a certain amount in wages. It was reduced by that amount not taxed by that amount. There is no reduction in SS benefits for additional income once you reach full retirement age.
Yes. 85% of one's SS income is taxable. As is 100% of military pensions.But, your SS can be subjected to FedIncTax depending on your total adjusted gross income even if not still working.
Due to my pension from a previous employer my SS was cut in half and is 100% taxable.
Interesting. I have a pension from a previous employer (Military retirement) and it does not affect my SS. 85% of my SS income is taxed. Are you not at full retirement age?
Hard to avoid paying any taxes.
Youngster71 old enough?