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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10452
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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Thanks. I would like to start having Social Security take

This answer was rated:

Thanks. I would like to start having Social Security take out the tax from my benefits, starting in 2017. It is impossible to get through to you on the phone and I am anxious to start this on January 1, 2017 as I have plans to retire mid year and need to get my financial affairs set up. Please advise! Thanks.
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?
Customer: I am currently receiving my benefits monthly, for the last 2 years (maybe 3) and am not having tax taken out. Stupid move. Consequently I have been really badly impacted every Apr15 as I am paying taxes due to benefits jacking up my income. Can I process this on line? But please advise your opinion. Thanks.

Hi. My name's Lane. I can help you here.

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You have to file IRS Form W-4V.

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Select the percentage of your monthly benefit that you want withheld from the available choices: 7 percent, 10 percent, 15 percent or 25 percent.

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Then sign the form and return it to your local Social Security office by mail or in person.

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here's the form: https://www.irs.gov/pub/irs-pdf/fw4v.pdf

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And here's the Social Security Office locator where you can enter your zip code to find your local office: (and it's mailing address)

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https://secure.ssa.gov/ICON/main.jsp

Please let me know if you have any questions at all, before rating me.

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And if you DON'T have other questions Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated!

Otherwise I receive no compensation for the work.

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Thank you,

Lane

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, a Master’s Degree, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986

Customer: replied 3 months ago.
Thanks very much for this info. I think it's just what I needed! Thanks for fast response & well done.

You're very welcome ... Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …is thanks enough!

Otherwise I receive no crediting for the work here.

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Thank you,

Lane

Lane and other Social Security Specialists are ready to help you