Can I Up My Income Or Can I Just Up The Amount I Pay?
We have a Corp, my husband & I are president & secretary. My daughter works for us too. I am 62 & I want to maximized my retirement at 70 or 72? Should I up my income or can I just up the amount I pay?
Hi. Here's what I can tell you. You can't voluntarily overpay Social Security taxes in order to increase your benefit rate. If you raise your salary you may be required to pay more Social Security taxes, which could potentially increase your benefit rate. However, based on IRS and Social Security regulations the amount that you pay yourself in . . . Read More
Category: Earnings Subject To Social Security Taxes
Posted: Oct 26 2021 - 1:16pm
Is My Full Retirement Age Earlier Because I'm Receiving Survivor Benefits?
I have been receiving survivor’s benefits for the past 3 years. I still work, so some of the benefits have been withheld. I will be 66 next month. My question is, is my full retirement age 66 since I’m receiving survivors benefits or 66 and 2 months?
Hi. Without knowing your year of birth I can't give you a definitive answer. Here's what I can tell you. People born in the years 1955 through 1961 have a different full retirement age (FRA) for Social Security retirement benefits than their FRA for survivor benefits. For those people, their FRA for survivor . . . Read More
Category: Miscellaneous
Posted: Oct 25 2021 - 6:48pm
Is It Correct That There Is No Family Maximum Ceiling In Our Case?
I use your retirement software and maximize SSN. My wife and I have both worked and qualified for SS near the max individual levels. As far as I can tell from your software and my financial advisor - we can both draw SS independent of each other whenever we decided to do so. There is no maximum family ceiling in our case. ---- Is this the case? --- Reason for checking is I have a relative who's accountant is tell them there is a family maximum level and that she should start drawing SS now at 62 because waiting won't matter because of this max value. I do not see this anywhere . . . Read More
Category: Family Benefit Maximum
Posted: Oct 25 2021 - 6:32pm
If I Receive SSDI Would Money Received On Investments Count As Earned Income?
If I was receiving SSDI, but had money invested in QYLD or any covered call etf, would that money count as earned income?
Hi. No. Income received on Investments is not considered as earned income.
Best, Jerry
Category: Disability Benefits
Posted: Oct 25 2021 - 6:23pm
What If I'm Separated And Live In A Different State Than My Husband?
i have been seperated from husband for about 8 years he lies in calif and i live in oregon
Hi. I'm not sure what you want to know. All I can tell you is that being separated from your spouse wouldn't have any effect on your potential eligibility for Social Security spousal benefits.
Best, Jerry
Category: Miscellaneous
Posted: Oct 25 2021 - 6:17pm
Will I Continue To Get Medicare And Medicaid?
i have medicare a and b and medicaid.. iapplied for ssi and got 14 dollars monthly. they rased my medicaid to mfs .from 1 nov my ssi hasbeen terminated reason wife income has raised. . actually they adjusted $19 for 9 months which they paid $171. sir my wifes income has raied $19.should i appeal on the decision. will it effect my medicare and medicaid or will i continue to get medicare and medicaid. i was on medicaid prior to getting ssi kindly advice me at your earliest
Hi. Your wife's income won't have any effect on your Medicare eligibility, so that . . . Read More
Category: Miscellaneous
Posted: Oct 25 2021 - 6:02pm
Will I Be Able To Keep My Employer Coverage After I Turn 65 And Enroll In Medicare Later Without A Penalty?
I will turn 65 3/31/2022. What should I do in regards to Medicare. I am currently employed & my benefits include medical insurance paid for by my employer. I do not want to lose Medicare or have to pay a penalty when I qualify, but need to know when I need to apply & will I be still be allowed to continue with the insurance provided by my employer?
Hi. As long as your employer group health plan (EGHP) covers at least 20 employees then you should be able to delay signing up for Medicare without any penalty if and when you enroll later. People . . . Read More
Category: Medicare
Posted: Oct 25 2021 - 5:18pm
If I Retire In 2022 Will My Benefit Rate Still Reflect The 5.9% COLA?
Hi I plan on retiring in 2022 and I see the COLA will be the largest 5.9. Will my monthly SSN check reflect that? Or is that increase just for current SSN recepients?
Hi. Assuming that you were born prior to January 2 1960, then the answer's yes. A person's Social Security retirement benefit rate is increased by all Social Security cost of living adjustments (COLA) that occur after they turn age 62, regardless of when they start drawing benefits.
Best, Jerry
Category: Cost Of Living Increases
Posted: Oct 25 2021 - 5:12pm
How Do I Get A Medicare Premium Refund?
Still can’t get a straight answer on this! And very frustrated. Millions of people take Medicare benefits and delay SS benefits. This is not some kind of personal dilemma. I paid Medicare quarterly in advance. My SS benefits started mid-quarter. How do I get a refund? Particularly since SS benefits started mid month (Bday) and not on the cycle of Medicare coverage on the 1st thru 30th e.g. quarter paid for Aug 1 — Oct 31st. Do they refund? Is it prorated the Bday (let’s say on the 5th or the 26th, etc). Please respond!!!!!!
Hi. When Social Security . . . Read More
Category: Medicare
Posted: Oct 23 2021 - 8:04am
Can You Explain Why A Surviving Spouse Can't Get Survivor Benefits If They Are Working Full Time?
If you are married and the spouse passed away,you work full time how come the surviving spouse is not entitled to her husband's SS benefits,I was told that I was not entitled simply because I worked full-time,but my son was entitled to receive the benefits,would you be able to explain that to me please
Hi. Social Security has an earnings test that applies to people who are under full retirement age (FRA) and who are eligible for retirement or survivor benefits (https://www.ssa.gov/ . . . Read More
Category: Earnings Test
Posted: Oct 23 2021 - 7:31am
