Ask Larry: Questions and Answers | BAM - Maximize My Social Security

Displaying 2071 - 2080 of 10063 questions.

Is It Better For Me To Be In An LLC?

I'll be 62 December 2021 and going to collect social security I have a part time delivery business and get paid by check is it better for me to be an LLC I will make under the allowable amount for social security

Hi. If your earnings don't exceed Social Security's earnings test exempt amount then it won't matter whether your income comes to you directly or through a small corporation. Any earned income that you have, which is any combination of gross wages and net earnings from self-employment, would count toward the Social Security earnings test exempt . . . Read More

Category: Earnings Test
Posted: Aug 19 2021 - 9:45am

How Did My Personal Information Get To Other States?

Why is my name and address and SSI number get from Georgia to Cleveland from Chattanooga Tennessee SSI office my identity has been stolen from Tennessee I never lived in Georgia or Cleveland

Hi. If someone is fraudulently using your Social Security number (SSN) I seriously doubt that it's due to any negligence on the part of your local Social Security office. In any event, though, if you have reason to believe that someone else is using your SSN you need to contact Social Security so that they can start an investigation. Social Security benefits are my . . . Read More

Category: Miscellaneous
Posted: Aug 19 2021 - 9:43am

Why Is My Person

Why is my name and address and SSI number get from Georgia to Cleveland from Chattanooga Tennessee SSI office my identity has been stolen from Tennessee I never lived in Georgia or Cleveland

Hi. If someone is fraudulently using your Social Security number (SSN) I seriously doubt that it's due to any negligence on the part of your local Social Security office. In any event, though, if you have reason to believe that someone else is using your SSN you need to contact Social Security so that they can start an investigation. Social Security benefits are my . . . Read More

Category: Miscellaneous
Posted: Aug 19 2021 - 9:01am

If I Remarry After Age 60 Can I Continue Collecting On My Ex-Spouse?

I'm collecting spousal SS based on an ex-spouse. If I re marry after age 60 can I Continue collecting on my Ex-spouse? If not and I have to switch to my new spouse, do I have to wait? Same question for a survivor benefit.

Hi. If you're drawing divorced spousal benefits based on the account of a living ex-spouse then a remarriage at any age would terminate your benefits unless you marry someone who is receiving Social Security widow(er)'s, mother's, father's, childhood disability, divorced spouse's, or parents benefits ( . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 18 2021 - 3:07pm

If I Receive SSI How Much Time Do I Have After Receiving An Inheritance To Spend It On A Home?

How much time do I have after receiving inheritance on SSI do I have to spend the inheritance on a home?

Hi. To clarify for other readers, an inheritance wouldn't affect Social Security benefits but could affect Supplemental Security Income (SSI) payments. SSI is a needs based benefit administered by the Social Security Administration.

I have a degree of knowledge of SSI regulations, but my expertise is actually limited to Social Security benefits. The manner in which an inheritance could affect SSI benefits is complex, and depends on the nature . . . Read More

Category: Supplemental Security Income
Posted: Aug 18 2021 - 1:11pm

What Do I Need To Get Extra Money To Cover Bills?

how's get extra money to cover billls & food & etc. what's we need?

Hi. My expertise is limited to Social Security benefits, and without knowing things like your age, earnings and marital history, and whether or not you are disabled, I can't tell you what if any benefits you might qualify for. Social Security's website (i.e. https://www.ssa.gov/) has information about applying for benefits, so you may want to start there.

Best, Jerry

Category: Miscellaneous
Posted: Aug 18 2021 - 9:17am

Can Social Security Cut Out My Husband's Benefits?

My husband has worked in the overseas oil fields for years. He rarely paid SS because it was foreign companies. We invested and saved, knowing we wouldn’t have much SS. Now that he is retired, at 67, the SS is asking us to provide our IRA and other savings information. They said they might cut out his $1587. benefit altogether. Is this allowed?

Hi. There is a Windfall Elimination Provision (WEP) that can cause a person's Social Security retirement benefit rate to be lowered if they also receive a pension based on their work and earnings that weren't subject . . . Read More

Category: Miscellaneous
Posted: Aug 18 2021 - 8:25am

Can I Freeze My SS And Collect My Deceased Husband's SS?

My husband passed away in 2004. I am going to retire in 2022. Can I freeze my SS and collect his until I turn 66 1/2.

Thank you

Hi. I'm sorry for your loss. I don't know what you mean by 'freezing your SS', but the only type of freeze that Social Security allows is a disability freeze (https://secure.ssa.gov/apps10/poms.nsf/lnx/0410105005). What it sounds like you're referring to is applying for widow's benefits while delaying applying for you own benefits, which you're allowed to . . . Read More

Category: Filing Options
Posted: Aug 18 2021 - 8:13am

Does My Ex-Husband Have To Be Drawing Benefits Before I Can Claim 50% Of His Benefit While Allowing Mine To Grow Until Age 70?

Larry,
Does it matter if my ex-husband is currently collecting SS benefits or not before I can file to collect 50% of his benefits and allow mine to continue to add up until 70 year’s old? He is currently 62 years old and I am 61 years old.

Hi. You can potentially claim divorced spousal benefits as early as age 62 even if your ex-spouse isn't collecting benefits, but only if your ex is at least age 62 and if your divorce has been final for at least 2 years. However, as long as your ex is still living you could never collect divorced spousal benefits . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 18 2021 - 7:33am

Does My Ex-Husband Have To Be Drawing Benefits Before I Can Claim 50

Larry,
Does it matter if my ex-husband is currently collecting SS benefits or not before I can file to collect 50% of his benefits and allow mine to continue to add up until 70 year’s old? He is currently 62 years old and I am 61 years old.

Hi. You can potentially claim divorced spousal benefits as early as age 62 even if your ex-spouse isn't collecting benefits, but only if your ex is at least age 62 and your divorce has been final for at least 2 years. However, as long as your ex is still living you could never apply for divorced spousal benefits . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 18 2021 - 7:25am

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