Social Security Questions? Ask a Social Security Expert
Dear Received bad advice,
Please give me a little more detail on how old were you when you opted out and how old are you now when you would like to go back to Social Security. And also what made you now think that was a bad advice. In addition,
1) are you married? How is your spouse' working, wage and SS situation?
2) At one point, you thought it was a good idea. What made you changed your mind.
Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP,
Please still give me your response to the last questions.
In the meanwhile, you can investigate and find out whether you can obtain social security retirement based on your spouse social security.
As to spousal benefit, go to this website, use the SSA calculator. If your spouse has been working for 10 years, 40 quarter equivalent, you may be able to qualify for medicare. The reason why I asked the earlier question is that maybe you can qualify for SS income, as well.
According to the calculator, you can still get Mediccare with a price even I tried you as single.
You're eligible to sign up for Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).
You may not be able to get premium-free Part A (Hospital Insurance) based on the work history of you or your spouse (living, deceased or divorced). You can buy Part A for a monthly premium.
If you paid Medicare taxes for less than 30 quarters, the standard Part A premium will be $411.00. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium will be $226.00. Some people pay a higher premium if they don't enroll when they're first eligible.
Most people pay a monthly premium for Medicare Part B. The standard monthly premium for Medicare Part B is $121.80 in 2016. Some people pay a higher premium based on their income or if they don't enroll when they're first eligible. Calculate my premium.
Dear New Jersey,
1. It is best to have two business entities to handle two different businesses.
2. It is highly recommended for you to form two businesses and register them both in New Jersey and in New York.
3. You should have insurance in both New Jersey and in New York even if you have to deal with two insurance agencies but preferably the same insurance company.
4. It is suggested that you file Form 1120S for the computer company with 0 on all them if that is true.
5. Form another company to do the beauty business and elect to be S corp if that is the best form you think it is for your situation.
Please feel free to follow up with further questions.
Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP
Please ignore the last reply. A computer problem caused my answer to be posted to your question.
Otherwise, please feel free to follow up with your question to me.