Sentences with phrase «amount as a spouse»

Not exact matches

Here's how it works: The higher - earning (first) spouse files for benefits at full retirement age, enabling the other to file for spousal benefits as early as age 62 — which, again, amounts to half of what the first spouse is entitled to.

If you want to test my theory, have your spouse, or parent add you as an A.U. on a couple of their cards without even giving you the physical card (to avoid risk if they worry about abuse) watch your scores go through the statosphere if the balances are low because it increases your presumed available amount of credit and expands your ratio of credit vs balances

Benefits paid to a surviving divorced spouse who meets the age or disability requirement as a widow or widower won't affect the benefit amounts your other survivors will receive based on your earnings record.

How it works: When you die, your spouse is eligible to receive your monthly Social Security payment as a survivor benefit, if it's higher than their own monthly amount.

While your spouse could file for spousal benefits as early as age 62, he or she will get the maximum amount only if you both wait until your full retirement ages before claiming benefits.

If you or your spouse is covered by a retirement plan at work (such as a 401k or 403b) and you make a significant amount of money, you may not be able to deduct your traditional IRA contributions from your current year's taxes.

An individual who is physically or mentally incapable of self - care, lived with you for more than half of the year, and either: (i) is your dependent; or (ii) could have been your dependent except that he or she has gross income that equals or exceeds the exemption amount, or files a joint return, or you (or your spouse, if filing jointly) could have been claimed as a dependent on another taxpayer's 2015 return.»

Think about it this way: Using the average individual benefit of $ 1,341 per month in 2016, finding a similar investment paying the same amount for as long as you live, with inflation adjustments and survivor benefits for your spouse, would cost nearly $ 450,000.

The annual disclosure forms legislators are required to submit to the state Joint Commission on Public Ethics only asks the elected officials to provide income ranges, not specific dollar amounts, for their outside income as well as the value of stock and property owned by them or their spouse.

The amount an individual will receive as a loan will depend on the value of the home, the age of the youngest borrower or eligible non-borrowing spouse, and current interest rates.

That's because the working spouse — provided she has the RRSP contribution room — can contribute $ 25,000 to her own RRSP as well as $ 25,000 to a spousal RRSP, doubling the amount a couple can withdraw.

Regarding the decisions about apporting assets among adult children (beneficiaries), there are several consideratikons: relative wealth of each beneficiary; age of each beneficiary, as a guide to life expectancy; other sources of income, if any, available to each beneficiary such as working spouse or likely inheritance and amount from spouse's parents; support and help rendered during lifetime, especially later years; # of young children and their ages for each beneficiary; relative need among beneficiaries to maintain a reasonable standard of living; and so on.

The right policy and amount of coverage depends on your needs — such as the amount of income you'd want to provide a surviving spouse, expenses to cover, charitable giving, or wealth transfer goals.

CSTs are sometimes referred to as bypass, family, or exemption trusts and are typically funded with assets having a value equal to the applicable exclusion amount ($ 11.18 million in 2018) of the first spouse to die.

But if you give more than the annual exclusion amount ($ 14,000 as of 2016) to one person other than your spouse in a single year, you'll have some planning concerns — and a reporting obligation.

Married couples have even more opportunities for increasing the amount they'll collect over their joint lifetime by engaging in various claiming strategies, such as the older spouse filing and suspending his or her benefit at full retirement age so the younger spouse can collect spousal benefits while the older spouse's benefit continues to grow.

The loan amount is based on the age of the youngest borrower or eligible non-borrowing spouse, the interest rate, as well as the lesser of the home's value or sales price, subject to HECM lending limits.

That's because the spouse who is working — if he has the RRSP contribution room — can contribute $ 25,000 to his own RRSP as well as $ 25,000 to a spousal RRSP, effectively doubling the amount a couple can withdraw for a home purchase.

But for Revised Pay As You Earn Repayment Plan, your wife will not be included in your family size if your spouse's income is not included in the calculation of your payment amount.

The spousal benefit can be as much as half of the worker's «primary insurance amount,» depending on the spouse's age at retirement.

If the transaction requires you to report gain (such as a sale to a related person other than your spouse), any gain that exceeds the amount of compensation income should be reported as capital gain (which may be long - term or short - term depending on how long you held the stock).

In some cases, the maximum death benefit for an additional insured can be as high as those of the primary insured, meaning your spouse would have the same amount of coverage as you.

You'll report 50 % of this amount as tax withheld (or $ 5,000) and your spouse will report the other $ 5,000.

If you or your spouse is covered by a retirement plan at work (such as a 401k or 403b) and you make a significant amount of money, you may not be able to deduct your traditional IRA contributions from your current year's taxes.

The extent to which pension income splitting will be beneficial will depend on the marginal tax bracket of you and your spouse or common - law partner, as well as the amount of qualifying income that can be split.

Find out what you should if a family members, such as a parent or spouse, steals your identity to open credit cards and rack up a large amount of debt in your name.

(ii) to the extent that the spouse or common - law partner does not, at the time of the contribution of the property under the TFSA, have an excess TFSA amount (as defined in subsection 207.01 (1)-RRB-.»

If your spouse will receive a pension for work not covered by Social Security such as government employment, the amount of their Social Security benefits on your record may be reduced.

A family living trust (typically husband and wife) or a joint trust with two grantors can be used to shift assets between the spouses upon death as a way to most effectively use the deceased spouse's exemption amount.

If you want to test my theory, have your spouse, or parent add you as an A.U. on a couple of their cards without even giving you the physical card (to avoid risk if they worry about abuse) watch your scores go through the statosphere if the balances are low because it increases your presumed available amount of credit and expands your ratio of credit vs balances

Both spouses can contribute the full amount as long as the couple earns $ 159,000 or less in 2008 and $ 166,000 in 2009.

For purposes of the means test, the U.S. Bankruptcy Code defines current monthly income as including: «any amount paid by any entity other than the debtor (or in a joint case the debtor and the debtor's spouse), on a regular basis for the household expenses of the debtor or the debtor's dependents (and in a joint case the debtor's spouse if not otherwise a dependent)...» Benefits received under the Social Security Act, payments to victims of war crimes or crimes against humanity on account of their status as victims of such crimes, and payments to victims of international terrorism or domestic terrorism on account of their status as victims of such terrorism are excluded from the means test.

The amount of your payments will be determined by the value of your RRSP, your age and sex, current interest rates, and whether you want all or a portion of the payments to continue for as long as your spouse lives.

Disabled veterans and the surviving spouses of disabled veterans potentially qualify for an exemption for as much as $ 122,128 on the property value assessment, in some circumstances, this amount can increases to $ 183,193.

(The percentages are slightly off, but the concept is the same — delaying the benefit of the spouse with the higher primary insurance amount increases the amount the couple receives as long as either spouse is still alive, while delaying the low - PIA spouse's benefit increases the amount the couple receives while both spouses are alive.)

If the beneficiaries are spouse and United Way in equal shares, United Way as the sole surviving beneficiary, gets the entire amount; if 50 % shares, half the IRA goes to your estate where it is subject to estate tax (possibly) and income tax definitely.

You'll need to know your Modified Gross Adjusted Income (and your spouse's, where applicable) as well as the amount of student loan interest you paid during the tax year.

What happens if your spouse has capital gain in a previous year (say $ 10,000) and no other income, no taxes were paid, however if capital lose 0f $ 10,000 was carried back her income would drop to zero thus allowing the other spouse the ability to use her personal amount as a tax credit for that year.

Although only Direct Loans may be repaid under Pay As You Earn, your (and, if you are married and file a joint federal tax return, your spouse's) eligible FFEL Program loans will also be taken into account when determining whether you qualify for Pay As You Earn based on the amount of your federal student loan debt relative to your income.

If the combined monthly amount you and your spouse would be required to pay under Pay As You Earn is lower than the combined monthly amount you and your spouse would pay under a 10 - year Standard Repayment Plan, you and your spouse are eligible for Pay As You Earn.

If the agreement or court order doesn't identify an amount as being solely for the support of a spouse or common - law partner, it will be treated as child support.

That is, your spouse's survivor benefit would be 50 % or 25 % of the amount of your benefit at retirement, plus the total percentage of cost - of - living increases you received as a retiree.

Similar to the dual entitlement provision discussed above, under the Government Pension Offset Provision, the amount of a person's Social Security benefit as a spouse or surviving spouse will be reduced by two - thirds of the amount of the Government pension (for example, a CSRS annuity) the person receives based on his / her own work that was not covered by Social Security.

If you begin receiving Social Security benefits as a dependent of your spouse at age 65, you will receive a monthly check from Social Security in the amount of $ 600.

The Commissioner has become aware that industry participants have inferred that subsection 307 - 5 (3) provides a mechanism for the spouse of a deceased member to roll over a death benefit income stream and retain the amounts as their own superannuation interest without the need to immediately cash - out that benefit.

If one spouse's W - 2 wages matches with any of the amounts listed as statutory employee income for the other spouse, you can not use this system.

Experian's spokeswoman said a consumer's credit report contains four types of data on the borrower: identifying information (including name, address, phone number, Social Security number, date of birth and spouse's name), account history (individual credit account information such as the date opened, credit limit or loan amount, balance, monthly payment, payment status and payment history), data from public records (such as federal bankruptcy records, tax liens, monetary judgments and overdue child support payments) and a record of inquiries into your credit history.

They are intended as a practical tool to assist spouses, lawyers, mediators and judges in determining the amount and duration of spousal support in typical cases.»

The amount of spousal support will depend on factors such as the difference between the parties» disposable income, length of cohabitation, the responsibilities of each spouse during cohabitation, and the effect of childrearing on the spouse's earnings.

For spouses whose current employment contributes towards a pension or retirement plan, filing a marital dissolution action as soon as the parties separate reduces the incentive for the other spouse to drag out negotiations and increases the amount of one's client's retirement that he or she can expect to keep.