If I Remarry, Will It Affect My Widow's Benefits?
I am a 74 yr old widow, collecting benefits on my late husband's Social Security. If I remarry, will that affect my benefits?
Hi. No. Remarriages that occur after a person reaches age 60 have no effect on widow's benefits.
Best, Jerry
Category: Widow's Benefits
Posted: Jul 7 2022 - 5:26pm
Do You Have Any Tips For My Personal Conference?
I am having a personal conference regarding a denial of a waiver for an overpayment.Do you have some advice as to how to talk to this person.The overpayment was in2017.I have had numerous documents sent to me plus phone calls,during the pandemic and visits to my lFramingham SS office..Do. Yo u have any tips on how to make this a productive conversation?
Hi. In order for a Social Security overpayment to be waived (i.e. forgiven), you must a) be without fault in causing the overpayment, and b) you must either be financially unable to repay the overpayment, or . . . Read More
Category: Social Security Overpayments
Posted: Jul 7 2022 - 12:28pm
Does PTO Short Term Disability Count As Earnings?
Does pto time bonus short term disability count as earnings on my social security I am 64
Hi. I'd need more details to give you a definite answer, but if what you're talking about is short-term disability insurance that's paid by an insurance company then it would not count as earnings for Social Security earnings test purposes. However, if what you are referring to is the equivalent of sick or vacation pay that is paid by your employer, then it would count as earnings for earnings test purposes ( . . . Read More
Category: Earnings Test
Posted: Jul 7 2022 - 12:20pm
If I Return To Work At Age 63 Can I Suspend My Benefits?
I turned 62 May of 2021and took retirement, getting my first check in July 2021. I worked part time since but stayed under the limit of income. I am wanting to return to work full time. Can I suspend my social security retirement benefits at this time?
Hi. No, you can't voluntarily suspend your benefits until you reach your full retirement age (FRA). But, if you return to work and if you earn more than the Social Security earnings test exempt amount, Social Security would need to suspend your benefits long enough to withhold $1 of benefits for each $2 . . . Read More
Category: Miscellaneous
Posted: Jul 6 2022 - 4:17pm
Am I Really Gaining That Much By Waiting Until Age 70?
Hi Larry, I turn 69 in early November, 2022. I am trying to decide if I should file when I turn 69 and get the benefit of the projected ‘large’ COLA in January 2023 or continue delaying until I turn 70 in November 2023. My estimated SS monthly benefit at 69 is $3343 and if I make the assumption that the COLA will be 8%, my monthly benefit would be $3610. My estimated monthly benefit at 70 is $3761. Am I really gaining that much by waiting until 70? Thanks so much for your guidance. Pam
Hi Pam. First of all, you'll get credit for the 2023 Social Security . . . Read More
Category: Filing Strategies
Posted: Jul 6 2022 - 3:50pm
Will The Income I Receive From Owning A Business Hurt The Amount I Get Or Penalize Me?
i will be turning 70 nov 30 2022..my husband and i still own businesses..will this hurt my amount that i get or will i be pentlized for still receiving income
Hi. No. The fact that you own a business certainly won't have any adverse effect on your ability to collect benefits, nor will it reduce your benefit rate. There's no limit on the amount of earnings or income that a person can have and still be able to collect all of their benefits once they reach full retirement age (FRA).
The only adverse effect that owning a business might have is with . . . Read More
Category: Benefit Amount
Posted: Jul 6 2022 - 11:56am
Can I Apply For Benefits From Both The U.S. And The U.K.?
I qualified for social security in USA by working here for more than 30 years. Prior to that I worked in the UK for about 10 years. However I also made voluntary contributions to the UK social Security system whilst I worked in the USA. I currently live in the USA. I qualify for social security payments from both countries.I am over the age of 68 years. Seeing that I meet the Windfall provisions can I apply for social security/pension from both countries.
Hi. Yes, you could definitely apply for Social Security benefits from both the U.S. and the U.K. . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Jul 5 2022 - 2:28pm
Can You Shed Some Light On Why My Benefit Rate Was Reduced?
Hello, I started receiving my Divorced Spouse Survivors Benefit in November 2020 at age 61. My monthly benefit increased 1.3% in January 2021 and 5.9% in January 2022. Last month, June 2022, I received a letter stating "my prior amount" was incorrect and my monthly benefit has been reduced back to my 2021 monthly benefit amount and my "overpayment of $810" waived because it wasn't my fault. This change rescinds my 2022 COLA. I hand delivered a Reconsideration form and letter and support documentation to my local SSA office and after specifically requesting the reason for the . . . Read More
Category: Benefit Amount
Posted: Jul 5 2022 - 12:52pm
Do You Think The IRS Hasn't Yet Told Social Security About The Earnings On My Recent Amended Tax Return?
Hi I became disabled with colon cancer in December of 2018. I filed for disability last year and was denied because my coverage or work credits ran out March 31st 2018. I amended my 2019 tax returns. I recently reapplied and was told the same thing. I don’t think the ire’s has reported the amended return. I did the amended return in March of this year. Do you think that’s the problem? Thanks
Hi. I'm sorry to hear about your illness. It takes a significant amount of time for the IRS to review and accept an amended return, and additional time to tell Social . . . Read More
Category: Disability Benefits
Posted: Jul 3 2022 - 11:16am
Does Social Security Pay Up To 6 Months Of Retroactive Benefits If A Person Files Late?
I am doing annual Roth conversions, but staying within my current 22% tax bracket, before I turn 70 (July 2023), about which time I plan to claim SS benefits. If I don't do these conversions, I will be in a higher tax bracket when I start taking RMDs at 72 (I have a pension now + Soc. Sec. @ 70 + a higher RMD @ 72, which will put me permanently in 24% bracket). Does Soc. Sec. pay up to 6 months retroactive benefits if a person files late? My thinking is I delay filing until January 2024, so that I have the entire 2023 tax year with just my pension for income, which means I can . . . Read More
Category: Filing For Benefits
Posted: Jul 2 2022 - 10:49am
