Ask Larry: Questions and Answers

Displaying 5061 - 5070 of 10063 questions.

If You Own And Rent Shop Premises, Would Your Social Security Benefits Be Affected By Your Income?

Hello. If you own and rent shop premises, would your benefits be affected by
the income you receive in rent?
Many thanks in advance

Hi,

Your income would only count for Social Security earnings test purposes if you are active in the business operating on your property and are thus required to report your income as self-employment earnings or wages. If you simply rent the property to someone else and report your income as rental income, that income wouldn't count for purposes of Social Security's earnings test ( . . . Read More

Category: Earnings Test
Posted: Apr 3 2019 - 9:32am

Can I Collect On My Deceased Husband's Social Security Even Though I Remarried At Age 31?

My husband died when he was 29. I remarried at age 31. I am now 60 years of age. Can I collect deceased husband's social security even though I remarried at age 31?

Hi,

No, not if you're still married. However, you could potentially qualify for widow's benefits on your previous husband's record if you're no longer married. A remarriage prior to age 60 (or age 50 if the widow is drawing disabled widow's benefits) bars possible eligibility for widow's benefits on a prior spouse's record throughout the duration of the remarriage ( . . . Read More

Category: Widow's Benefits
Posted: Apr 3 2019 - 9:22am

Can You Give Me Any Advice?

I Bet I have the most unusual case you ever heard....filed for disability in 2012,was awarded disability in 2015. In March 2019, it was taken with no warning, due to what I believe was retribution for filing the appeal.need advice desperately have No where to turn.they took my social security Medicare, they change my onset date, Which knocks me out of my Social Security being able to draw on and my deceased husband as well.they say I am disabled 16 months later than 2015 that I owe thousands of dollars to them. But are unsure what to do with me at my local office they say I . . . Read More

Category: Disability Benefits
Posted: Apr 2 2019 - 10:09am

If I File At Age 62 And Earn Under $17,000 Yearly, Will SS Deduct Any Benefits From Me?

If I claim at 62, and continue to work part time earning under $17,000 yearly, will SS deduct any benefits from me? If so, how would that be implemented?

Hi,

Social Security won't withhold any of your benefits due to your earnings if you earn less than $17,640 this year. Before filing, though, you should strongly consider using our software to explore and compare your filing options in order to be sure you're choosing the best possible strategy for claiming your benefits.

Best, Jerry

Category: Earnings Test
Posted: Apr 2 2019 - 10:03am

Which Year Of My Earnings Will Social Security Use To Determine The Amount Of Benefits To Withhold?

Hi Larry,
I have a simple question. My husband of 25 years died in 2017. I will be 60 in January of 2020 and plan on collecting survivor benefits. In 2018 I made $29,321. In 2019 I will make about $30,500. I am wondering if social security will use 2018, 2019, or even 2020 to figure out how much I earn above the $17,640 limit before they start taking out $1 for every $2 you earn.
Thanks for your answer, Wendy

Hi Wendy,

I'm sorry for your loss.

They'll use your 2020 earnings. If you file for widow's benefits effective with January . . . Read More

Category: Earnings Test
Posted: Apr 2 2019 - 9:50am

Do You Still Offer A Personal Advisory Service?

You used to have a personal advisory service where you would analyze and advise on individual situations. I think the cost was either $150 or $250. Does that still exist, and can I sign up if so?

Hi,

Yes, we offer an 'Expert Review' option that includes a 1 hour phone consultation. For more information on that service, click on the purchase link at the top of this page.

Best, Jerry

Category: Maximize My Social Security Software
Posted: Apr 1 2019 - 5:19pm

If I Start Drawing Reduced Widow's Benefits At Age 60 Can I Still Receive My Husband's Full Rate When I Reach Age 67?

My husband just passed away at 67. I am 57 and still working. He qualified for disability benefits at around 62 which was equal to his regular retirement benefit of $2,054.40. He made more money than I did and I plan to file on his benefit and we have been married 18 years, If I take a widows benefit at age 60 I understand it is a reduced benefit. My question is when I reach full retirement age (67)? can I receive the full amount based on his work history? Is the widows benefit calculated on his earnings or mine?

Hi,

I'm sorry for your loss.

No . . . Read More

Category: Widow's Benefits
Posted: Mar 31 2019 - 8:10pm

How WIll Filing For SS Retirement Benefits At Age 62 Affect My Husband's Benefits If He's Approved For SS Disability?

My husband applied for SS Disability when he was 60 and is now awaiting a hearing to determine approval or not. He is now turning 62 and we are getting ready to apply for his SS retirement benefits. How will this affect his benefits if approved for SS disability?

Hi,

If your husband's claim for Social Security disability (SSDI) benefits is approved and his first month of SSDI entitlement is retroactive to a month that is the same as or earlier than his first month of entitlement to Social Security retirement benefits, then the fact that he filed for . . . Read More

Category: Disability Benefits
Posted: Mar 30 2019 - 4:43pm

What Will Happen If My Girlfriend And I Get Married?

Larry, Will your household service answer this question;
Both my girlfriend and I are over 65, we want to get married, she is 65 and a widower collecting S.S., I am divorced, 69 and collecting. What will happen if we notify SSA, what happens if one of us dies, etc?
We plan on purchasing your $40.00 program.
Thank you for your time and knowledge.

Hi,

My answer assumes that you are drawing your own Social Security retirement benefits, and that your girlfriend isn't eligible for benefits on her own Social Security record. That said, . . . Read More

Category: Miscellaneous
Posted: Mar 30 2019 - 4:11pm

When Should My Wife And I Apply For Our Respective Benefits?

Hi Larry,
My wife an I have a healthy combined income in the low six figures. She is 68 and I am 63. Neither of us have yet claimed any SS. She's healthy and planning to work until 70. I'm not as healthy and will work until 70 if able (I do enjoy my work) but may have to stop working FT at FRA for health reasons. My wife's monthly estimated benefit calculation at FRA is currently $1,318 and mine is $2,645. Both should continue to grow for as long as we continue working and paying into SS. I max out SS withholding, my wife does not. My goal is to maximize SS income for my . . . Read More

Category: Filing Strategies
Posted: Mar 29 2019 - 7:33am
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