Sentences with phrase «file for the social security benefits»

For example, my full retirement age is 67 and if I claim at age 62, the earliest age at which I can file for Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age benefit.

The answer depends on which age you file for the social security benefits.

Finally, before you rush out to file for your Social Security benefits at age 62, consider the big picture: Generally, the longer you wait, the higher the potential lifetime benefits.

Next on my agenda is to file for Social Security benefits at age 66 next year.

The longer seniors wait to file for social security benefits, the more they'll get each month.

If you filed for Social Security benefits May 1, 1997, or later, you are assigned one of three new payment days based on date of birth:

In addition, if you're still working it may not make sense to file for your Social Security benefit since there is a limit to the amount of money you can earn while receiving benefits if you're under your Full Retirement Age (FRA).

When he files for his Social Security benefit, the children are eligible for dependent's benefits based upon his Social Security record.

Tom could file for his Social Security benefits now at age 68, and he'd receive a benefit of approximately $ 2,320 per month (plus Cost - Of - Living Adjustments).

GAO Report: Challenges For Those Claiming Social Security Benefits Early This report of the U.S. Government Accountability Office looks at the circumstances of people who file for Social Security benefits early to understand why they do so even though taking benefits before full retirement age reduces monthly payments.

Millions of people file for Social Security benefits every year because they are disabled and unable to work for at least 12 months.

Not exact matches

Here's how it works: A person files for Social Security retirement benefits at full retirement age, but then suspends payment of them.

If you are married to someone who has already filed for (and perhaps suspended) Social Security benefits, and you apply for benefits for yourself, then you will automatically receive either the normal benefits you are entitled to for your own work, or up to half of your partner's benefits, whichever is higher.

To begin with, your spouse has to have already filed for (and perhaps suspended) Social Security benefits, which means that typically only the younger of the two spouses can institute this strategy.

If you are healthy and expect to be collecting benefits for a long time, it might benefit you to delay filing for Social Security until you have accrued the maximum benefit.

Here your spouse would file for benefits, but ask the Social Security Administration to suspend the payment of those benefits.

Once Cheryl learned nearly 10,000 baby boomers were retiring each and every day — all of whom could benefit greatly by working with advisors that possessed the expertise necessary to help them make the best possible decision about when and how to file for Social Security retirement benefits, she embarked on the course to create that which was to become CSSCS.

«As an advisor, I worked with some colleagues to develop a beautiful report that covered the basics of when and why one should file for Social Security retirement benefits and what you should consider doing with the balance of your retirement assets.

Among them are the rights to: bullet joint parenting; bullet joint adoption; bullet joint foster care, custody, and visitation (including non-biological parents); bullet status as next - of - kin for hospital visits and medical decisions where one partner is too ill to be competent; bullet joint insurance policies for home, auto and health; bullet dissolution and divorce protections such as community property and child support; bullet immigration and residency for partners from other countries; bullet inheritance automatically in the absence of a will; bullet joint leases with automatic renewal rights in the event one partner dies or leaves the house or apartment; bullet inheritance of jointly - owned real and personal property through the right of survivorship (which avoids the time and expense and taxes in probate); bullet benefits such as annuities, pension plans, Social Security, and Medicare; bullet spousal exemptions to property tax increases upon the death of one partner who is a co-owner of the home; bullet veterans» discounts on medical care, education, and home loans; joint filing of tax returns; bullet joint filing of customs claims when traveling; bullet wrongful death benefits for a surviving partner and children; bullet bereavement or sick leave to care for a partner or child; bullet decision - making power with respect to whether a deceased partner will be cremated or not and where to bury him or her; bullet crime victims» recovery benefits; bullet loss of consortium tort benefits; bullet domestic violence protection orders; bullet judicial protections and evidentiary immunity; bullet and more...

J.W There are many deductions you can not take if you file married filling separate: Student loan interest deduction,Tax - free exclusion of US bond interest, Tax - free exclusion of Social Security Benefits, Credit for the Elderly and Disabled, Child and Dependent Care Credit, Earned Income Credit, Hope or Lifetime Learning Educational Credits, MFS taxpayers also have lower income phase - out ranges for the IRA deduction Also both claim the standard deduction or both itemize their deductions Big problem is tax liability goes to both husband and wife

According to DOMA, states are not required to recognize a same - sex marriage performed in another state, meaning these couples are not eligible for Social Security survivors» benefits, insurance for government employees, immigration status, filing of joint taxes and more.

I asked for help finding the identity of a vicious stalker who published my personal information and was encouraging people to file a complaint to Social Security saying I was fraudulently receiving benefits.

It is illegal to use anyone else's TIN (including SSNs and EINs) for any purpose, including filing taxes, collecting Social Security benefits and obtaining credit.

The tax return form and IRS Publication 915 contain the rules for calculating the MAGI when the filing status is married, the couple file a joint return and only one of them receives Social Security benefits.

The Social Security Administration will not automatically switch her to the spousal benefit once she is eligible; the wife will have to file an application for the spousal benefit, Blair says.

First, they'll have virtually no idea what to expect each month from Social Security when they do file for their benefit.

Phaseouts, limits and caps are almost always less advantageous when filing separately (such as for the cap on rental losses and taxation of Social Security benefits)

Each year, the government makes Social Security changes, such as revising guidelines about how to file for and receive benefits.

Essentially, the higher - earning spouse files for Social Security upon Full Retirement Age and then immediately suspends that filing, allowing the benefit to grow even more, at least until age 70.

If your base income exceeds the limit for your filing group, you'll have to pay taxes on some of your Social Security benefits.

File and Suspend allowed you (generally the higher earner in a couple) to file for, but suspend taking, your Social Security retirement benefits while permitting your spouse and / or eligible dependents to collect benefits based on your earnings recFile and Suspend allowed you (generally the higher earner in a couple) to file for, but suspend taking, your Social Security retirement benefits while permitting your spouse and / or eligible dependents to collect benefits based on your earnings recfile for, but suspend taking, your Social Security retirement benefits while permitting your spouse and / or eligible dependents to collect benefits based on your earnings record.

Given the amount of money involved, I think almost everyone should consult a Social Security calculator before filing for benefits or, if you're not comfortable doing the analysis on your own, consult a service such as Maximize My Social Security or Social Security Solutions that will lay out your options for a fee.

While there are a number of factors you should consider before filing for bankruptcy, you should not let fear that bankruptcy may take away your Social Security benefits be one of those factors.

You can receive benefits on an ex-spouse's earning record if they're unmarried, 62 or older, your marriage lasted more than 10 years and your ex-spouse is eligible to receive Social Security (even if they haven't filed for benefits).

Retirees who delay filing for Social Security until age 70 receive annual payments equal to 132 % of full retirement benefits.

Whether it is a question as simple (on the surface at least) as when to file for Social Security, or something much more complex as to trying to anticipate cost of living adjustments to future monthly benefits; Americans can be certain of one thing: the high level of uncertainty that each retired or near retired individual faces.

When this occurs, the spouse that reaches full retirement age (age 66), files for Social Security, and then suspends their benefits immediately.

By enacting a File & Suspend, Tom can continue to delay his own Social Security benefit while at the same time providing dependent's benefits for the children.

An 8 % annual bump in Social Security benefits is a pretty big incentive to put off filing for benefits.

And you may also be able to boost the size of the payments you get from Social Security by delaying when you claim benefits or, if you're married, better coordinating when you and your spouse file for them.

To maximize Social Security, he will now file for benefits and suspend receipt of that income.

In addition, the worker must have filed for Social Security retirement benefits and be receiving them in order for the spouse to collect benefits on the worker's record.

The application guides you through a brief set of questions that will help you consider either filing for Social Security and Medicare benefits, or filing only for Medicare.

A portion of your Social Security benefits will be taxable if your income — such as from freelance work, a taxable pension and IRA withdrawals, or nontaxable interest — plus half of your Social Security benefits add up to more than $ 25,000 if single or $ 32,000 if married filing jointly (see Calculating Taxes on Social Security Benefits for more inforbenefits will be taxable if your income — such as from freelance work, a taxable pension and IRA withdrawals, or nontaxable interest — plus half of your Social Security benefits add up to more than $ 25,000 if single or $ 32,000 if married filing jointly (see Calculating Taxes on Social Security Benefits for more inforbenefits add up to more than $ 25,000 if single or $ 32,000 if married filing jointly (see Calculating Taxes on Social Security Benefits for more inforBenefits for more information).

Your social security benefits will be completely tax - free if your provisional income is under $ 25,000, or $ 32,000 for those filing jointly.

You can file Form W - 4V with the Social Security Administration requesting to have 7 %, 10 %, 12 % or 22 % of your monthly benefit withheld for taxes.

One more good effect of working into «retirement»: Let's say that you filed for Social Security before your normal retirement age because you needed the money, even though it meant receiving reduced benefits for life.

Your Social Security income is almost never taxable and you may not need to file a tax return (your benefits would have to be unusually generous for the income to be taxable).

Mesothelioma patients are often nervous about filing for workers» compensation or Social Security benefits because they fear that doing so will jeopardize their ability to file a mesothelioma personal injury lawsuit in the future.

I can advise my clients on how filing for Social Security can affect their workers» compensation benefits but I leave the questions about the Social Security system itself to Joanne!