Ask Larry: Questions and Answers

Displaying 1621 - 1630 of 10063 questions.

When Do I Qualify For Survivor Benefits?

I'm 61, I was born 4-21-60, my husband died September 10-2010. When do I qualify for or when should I apply for survivor benefits.

Hi. I'm sorry for your loss. You're already old enough to claim reduced widow's benefits, but whether or not you should is another matter. Until you reach full retirement age (FRA), there is a limit on how much you can earn and still be paid benefits. So, whether or not you're working and how much you'll be earning is a key part of the equation. Another important factor with regard to when to claim survivor benefits is . . . Read More

Category: Survivor Benefits
Posted: Dec 2 2021 - 8:56pm

Could My Wife And I File Separately To Avoid IRMAA?

So, if filing jointly would cause both my wife and me to be affected by IRMMA, couldn't we file separately and list the entire amount of income on mine and nothing on hers???

Hi. I assume that you could choose to file your taxes listing your status as 'married filing separately', but since I'm not a tax expert I can't tell you any specifics. Furthermore, following your plan could end up causing you to pay even higher premiums depending on your and your wife's total incomes. You should probably review the IRMAA charts on the following Medicare webpage . . . Read More

Category: Medicare
Posted: Dec 2 2021 - 4:55pm

If My Husband Dies Before FRA Can I Draw Survivor Benefits?

I have been. Full time caregiver to my disabled husband for almost 10yrs. He is 62 I am 60. He has been on ssd for 17yrs. If he passes away before fra can I draw survivors benefits?

Hi. Probably. You can draw reduced widow's benefits as early as age 60, so you would already meet the minimum age requirement for widow's benefits. The other requirements are outlined in the following section of Social Security's handbook: https://www.ssa.gov/OP_Home/handbook/handbook.04/handbook- . . . Read More

Category: Widow's Benefits
Posted: Dec 2 2021 - 4:49pm

Do I Need To Tell Social Security That I Got Divorced, And Will It Affect My Payment?

I claimed on my social security at 62, when my husband retired at 66 I claimed 35% of his SS. We were married 38 years. He left and we divorced. Do I have to inform Social Security about our divorce and will it impact my payment? We have been divorced 7 years and I am 81

Hi. The divorce won't affect your benefit amount since you were married for more than 10 years, but yes you should notify Social Security. They would need to update your records to reflect the fact that you're now entitled as a divorced spouse rather than a spouse.

Best, Jerry

Category: Miscellaneous
Posted: Dec 2 2021 - 4:44pm

What Will My Wife's Spousal Rate Be If I Start Drawing My Benefits At FRA?

My wife took Social Security at 62 with FRA at 66 years 8 months. Her initial monthly payment was 720 with a PIA at that time of 1009. Her DOB is 9-16-58. My FRA is 66 and 6 months with DOB of 2-26-57. I expect to wait to draw my Social Security at my FRA. What will my wife’s spousal benefit be at the time I start Social Security at my FRA ? My Social Security online projects my PIA to be 3006. Would it be different if I waited for her to reach her FRA two months later at 66 years and 8 months?

Hi. Since your wife was born after January 1 1954, when she . . . Read More

Category: Benefit Amount
Posted: Dec 2 2021 - 7:00am

Can I Draw Anything Now At Age 60?

I’m 60, can I draw anything? Or can I draw from my husband’s social security disability?

Hi. As long as your husband is still living, the only way that you could collect benefits from his record prior to age 62 is if you have a child in your care who is eligible for benefits on your husband's record and who is either under age 16 or is disabled.

If you're insured for Social Security benefits based on your own earnings history, the earliest that you can collect Social Security retirement benefits is at age 62. The only way that you could collect . . . Read More

Category: Miscellaneous
Posted: Dec 1 2021 - 5:20pm

How Can I Pay My Bills If My Payment Date Changes?

I usually get my deposit on the 4th of every month. This is my only income and all my bills are due the first or fifth of the month. Now you are telling me I won't get my deposit until the fourth wednesday of the month. How can I pay my rent and monthly bills. I am 75 yrs with lots of health problems..I can barley make ends meet now and can't afford late fees.. Whoever made this decision did not take into consideration everyone is not rich. This needs to stay as it is.

Hi. I'm certainly not telling you that your payment date will change. I don't know if . . . Read More

Category: Payment Dates
Posted: Dec 1 2021 - 4:58pm

Will My Payment Date Change In 2022?

i receive my social security check on the 3rd of each month. will my date change in 2022. if so i will have to go for a full month without a check because my date of birth is the 25th of the month. how is this fair and what am i supposed to pay my bills with and buy food each month.

Hi. I don't whether or not your payment date will change. What I can tell you is that based on Social Security law the only people who should be getting paid on the 3rd day of the month are a) people who applied for benefits prior to April 30 1997, or b) people who also receive . . . Read More

Category: Payment Dates
Posted: Dec 1 2021 - 10:25am

Why Is My SSI Portal Showing My Next Payment As Zero?

just got ssdi record time 50 days did it myself looked a my SSI portal down loaded my letter... all looks great, however when i look on page 1 of my portal it says next payment.....0.00 hmm ? not sure .... perhapes because i havent recieved my 1st check yet......

Hi. I don't have enough details to be able to offer any specific information about your case, but I can tell you that there is a 5 month waiting period for Social Security disability (SSDI) entitlement. The 5 months start with the first full month that follows the month of your disability onset. . . . Read More

Category: Disability Benefits
Posted: Dec 1 2021 - 9:08am

How Do I Report My Income If My Employer Doesn't Take Out Taxes?

How do i report my income on a part time job. IF MY EMPLOYER does not take out taxes and i do a 1099 as a subcontrctor. Making a 1000 a month

Hi. You would report that income on your tax return as self-employment. I'm not a tax expert, but you can find more information on the following IRS website: https://www.irs.gov/businesses/small-businesses-self-employed/self-emplo....

For Social Security purposes, the countable amount would be your . . . Read More

Category: Earnings Subject To Social Security Taxes
Posted: Nov 30 2021 - 5:42pm
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