Can I Report My Business Income To My Wife's Record?
I want to retire but own a business that provides too much income. Can my wife apply for an ein tax number and have all income from the business paid to her
Hi,
Assuming that you still intend to be doing the work in question as opposed to your wife, what you are proposing sounds potentially fraudulent to me. However, I don't have enough information about your business to know for sure. All I can really tell you is that earned income is supposed to be reported under the Social Security number of the person who does the work involved.
It's . . . Read More
Category: Miscellaneous
Posted: Jan 25 2018 - 6:31am
Is The Information That The Social Security Representative Gave Us Accurate?
I turned 66 in June of 2017, but have not yet started collecting Social Security. My wife turns 66 next month. We both intend to file for Social Security benefits next month. My wife intends to apply for Restricted Application. According the the Social Security Representative, my wife will get half of what I was supposed to get in June of 2017; not half of what I am entitled to in February of 2018. Also, by filing in February, I will only get what I was entitled to in January of 2018 and will have to wait until January of 2019 to get the amount due me by filing in February. Is . . . Read More
Category: Miscellaneous
Posted: Jan 25 2018 - 6:19am
What Is Our Best Course Of Action?
My wife turned 67 in Ap[ril of 2017 and applied for spousal benefits. Social Security refused to pay them because she was born in a car and has no birth certificate. (Passport, driver's license, etc. what been submitted.) She appealed, and their office in Chicago sent a list of still more documents she could submit, so more went sent (voting record, school record listing date of birth. Months have passed, and no response. Registered letter asking for a response was sent the end of December. No response. What is the way to get a response? What is the way to get hem to obey the . . . Read More
Category: Miscellaneous
Posted: Jan 25 2018 - 6:05am
How Do I Change My Date To Start Drawing Benefits?
I will be 65 in the middle of March and will be retiring at the end of March.
I have applied for SS and it has been approved, however after looking at the letter
I realize I have made a mistake somewhere cause they are Paying my first check
in April which is for March. I do not want my benefits to start til April because I
will be working full time all of March and would just have to send the check back.
How do I change the start date to April? which would mean my first check would
come in May for the month of April?
. . . Read More
Category: Miscellaneous
Posted: Jan 24 2018 - 11:35am
Could My Benefits Be Affected If I Form An LLC?
I receive SS death benefits from my late husband, im interested in creating a LLC, but dont know if it could effect my benefits on the tax end
I wont be taking a salary yet
Hi,
It's difficult to answer your question without more information. First of all, if you are at least age 66 your Social Security benefits would not be subject to withholding regardless of the amount of your work and earnings. But if you will be under age 66 for all of 2018, then you would lose $1 of benefits for each $2 that you earn in excess of $17,040 ( . . . Read More
Category: Earnings Test
Posted: Jan 24 2018 - 11:21am
Can I Get Additional Benefits From My Husband's Record?
Hello. My husband and I separated after 32 years of marriage. I retired and started drawing SS at age 62. Ex husband is still working and not drawing. We are both 66 years of age. Divorce finalized in 2013. Can I now increase my benefits by the amount using the formula of half of my ex husbands full amount minus my present amount? I called SS and got a very quick “no” even before I could state all of the above info. Thought I’d ask a knowledgeable independent source. Thank you.
Hi,
It sounds like you could potentially qualify for divorced spousal . . . Read More
Category: Divorced Spousal Benefits
Posted: Jan 24 2018 - 11:09am
Can I File For Spousal Benefits Now And Switch To Widow's Benefits Later?
Because I worked for and retired from the state, I did not ever contribute enough quarters to Social Security to qualify for my own entitlement. My husband, however, has worked and paid into Social Security since he was 15 (he is now 64, almost 65). He does not intend to file for Social Security until age 70. I am aware of the GPO/WEA, which will severely reduce any benefit I would receive from his record (because of my pension) but it would not eliminate it. Here is my question: can I file for the spousal benefit now, when I am 64 (soon to be 65), when it would only be a few . . . Read More
Category: Spousal Benefits
Posted: Jan 24 2018 - 10:37am
Can My Husband File A Restricted Application For Spousal Benefits When I File For My Benefits?
I had the pleasure of reading your book GET WHAT'S YOURS that made me think about the best Social Security strategy for my family. My husband has reached his FRA and keeps working. I am planning to retire at 65 from my teaching job at the end of the school year. Can my husband file restricted application for his spousal benefit while working full time after I get my Social Security retirement benefits? If the answer is "yes," will he automatically get Part A Medicare that he doesn't have now due to HSA at his job?
Thank you very much for sharing your expertise and time . . . Read More
Category: Filing Options
Posted: Jan 24 2018 - 10:27am
Can You Recommend Someone To See About My Social Security?
I would like to set up an interview about maximizing social security. Can you recommend someone near me?
Hi,
We don't offer in-person services, but our expert review service includes a 1 hour telephone consultation. For more information, please refer to the purchase page. Otherwise, you could try visiting your nearest Social Security office: https://secure.ssa.gov/ICON/main.jsp.
Best, Jerry
Category: Maximize My Social Security Software
Posted: Jan 23 2018 - 2:31pm
Can I File For Divorced Spousal Benefits And Leave Mine Until I'm 70?
I have been divorced for about 10 years and we were married for 25 years. He was 59 in Dec 2017 and I am 63. Can I file for Spousal benefits and then leave mine till I turn 70?
Hi,
No. Unless your ex-spouse is drawing disability benefits, he must be at least age 62 in order for you to potentially qualify for divorced spousal benefits on his record. Furthermore, since you were apparently born after January 1 1954, you will be deemed to also be filing for your own retirement benefits if you file for divorced spousal benefits ( . . . Read More
Category: Divorced Spousal Benefits
Posted: Jan 23 2018 - 10:58am
