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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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I received a 10 year bonus voucher of $7500.00 in January of

Customer Question

I received a 10 year bonus voucher of $7500.00 in January of 2016. I have a year to claim this. It can only be used for a vacation, house repair or to pay down a car loan. It will be paid directly from the company I worked for. I started my retirement at age 64 in February of 2016 and can only make $1310 a month without SS taking back one dollar for every two I make above that. On the SS website this seems to be a situation where I can use this at ant time and not have it count against me for that month, as it is income previously earned before retirement and received later. I do not know if this is correct.
Submitted: 9 months ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 9 months ago.

Does your company actually consider it a Bonus?

And are you collecting your social security retirement benefit now, early, at the permanently reduced rate?

Customer: replied 9 months ago.
On my voucher they have called it an award. I sent an e-mail to ask if it is a Bonus. I collect my first check for this February next month and now work part-time for them.
Expert:  Stephanie O Joy, Esq replied 9 months ago.

Is it being taxed for SS purposes, do you know?

Customer: replied 9 months ago.
I do not know that yet. I am trying to find out. If it is considered to be granted to me in January I believe I am ok. I will let you know when I find out, if that is alright with you.
Expert:  Stephanie O Joy, Esq replied 9 months ago.

Sure.