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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2970
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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This is for barbra social security. question

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this is for barbra social security . question

Thank you for requesting me.

Please post your specific question so I can assist you.

Thank you.

Barb

Customer: replied 13 days ago.
Hi Barb happy new year i wrote your name wrong sorry i just did it so fast . any way here are my income from 2016 8387.50 156.60 826.40 3107.00 1923.96 does that look ok for 2016 and about 2017 can i go to ss and ask them to suspend my payments until i get to 66 even though i would not make it on my working because i make less . than my social security but it still togather i am ok paying down debts stil belive it or not from 1 year ago hospital bills thanks

Great to hear from you!

It looks like you earned $14,401.46 during 2016. You're under the limit.

I would not advise you to ask SS to suspend your payments. You don't know what's going to happen in 2017. Just see how it goes. The limit for 2017 is $16,920.

Customer: replied 13 days ago.
sorry barb it's not 826.40 it's 669.10

It doesn't matter. The 669.10 is less than $826.40.

Customer: replied 13 days ago.
you know i have been working hard and paying down things very tight with my money . in a way I am glad i do not have any family . here just work eat and sleep . so do they suspend payments if you ask them
Customer: replied 13 days ago.
i am not going to but all i saw in that letter they sent with the payment 2017 is if you made over the limit 1 for every 2 that was it .you know i just got my medical from my company . i pay from my check . but i can not get obama care health . you know i started at 60 right after my husband died because i needed it it and together even with reduced payment i can make it

You can request that payments be suspended

BUT

I would not advise it. Like I said, you don't know what's going to happen.

Customer: replied 13 days ago.
what is suspend payment mean

Suspending your payments means that you would not receive any payments from SS.

Customer: replied 13 days ago.
tell me what to do i know this year just started shall i just work try to save and let them cut my check next year for 2 months because if i make 24000.0 how much would be cut i saw some where one person on this site with a question they cut her's 4 payment she made 27000.00 for 2016 i saw that answer that makes more sense to budge for 2 months
Customer: replied 13 days ago.
no i can do that i would leave my job and get a part time before i do that no way there are no good part time jobs i tried that the last 2 years and lost my savings what do people do who can not make it on s s and have to go back to work

Just keep working at your full-time job and don't worry about it.

That's what people do who cannot make it on SS alone.

Customer: replied 13 days ago.
they work and get their s s and ss cut the check the end of the year for the year after that is it
Customer: replied 13 days ago.
it's hard no matter what i do i just can not win

You have a full-time job that you love PLUS you're receiving survivor benefits!

Customer: replied 13 days ago.
yeah but next year they will cut my check 1 for every 2 over the limit that means if i make 24000.00 how much would they cut mine
Customer: replied 13 days ago.
tell me what to do just work and go file my taxes this year and budget for that 2 months cut next year

The limit for 2017 is $16,920. You would be $7080 over the limit. So $1 for every $2 over the limit.

Yes.

You are healthy and like your job. Just continue to work and see what happens next year.

Customer: replied 13 days ago.
yeah and is that a lot and if i get 1600 how many months that with out a check so i can budget

About 4

Customer: replied 12 days ago.
no barb i think if it is 7083 it is half that

You would be over the limit by $7080. Half that would be $3520.

Make sense?

Customer: replied 12 days ago.
is that a lot so they cut it about 2 months and do i call them back to start it back up do you know people who went back because they needed the money

I think it would be a mistake to stop your benefits and then call to restart them. As I said, you have a full-time job that you like, but you don't know what's going to happen in the future. Suppose you call to stop benefits and then get laid off?

Customer: replied 12 days ago.
You are right i am not doing that never so tell me how to budget and how do they do it . and do you see people go back to work after taking ss because they can not make it i am trying to pay down stuff . like hospital from a year ago . debts tell me do you know people who went back . i will not call you yare right. in their letter they say 1 over 2 from what you made . so if i am well and can work couple of years and stay healthy . they will give me reduced payments and with my job i will be ok . so tell me how do they do it and have you known people who done it i saw a question with a guy who made 90000 dollars now that is a crazy one

Do your budget based on what you make from your job and 9 months of SS benefits (so you have a cushion). Even if you go over the limit in 2017, you'll have extra money. Because you are working full-time now, try to keep some money in reserve instead of paying down everything quickly.

Customer: replied 12 days ago.
ok tell me how, and have you seen people work and do that . is taking s s d different from what i am taking thank you dear

People do all different things. You should do what's best for you.

Customer: replied 10 days ago.
Hi Barb I saw on the s s web site you can work and get s s a lot of people had to go back because they did not have enough money to live . so it is ok . now with the way the health care is going i am glad i have health care even though i pay for it from my check because i can not get obama care . so i have to try and work at least til medicar . i got my w2 from my company i was right with numbers . any way show me please an example on how to budget for next year . thanks

Since you're working full time, try to save at least 20-25% of each paycheck.

Customer: replied 10 days ago.
how much is that if after taxes and medical you go home with 338.00 a week .
Customer: replied 10 days ago.
when they cut in 2018 when will that be will it be after i filed my taxes in 2018

Here's a good example:

You work and earn $26,920 ($10,000 over the $16,920 limit) during the year (2017). Your Social Security benefits would be reduced by $5,000 ($1 for every $2 you earned over the limit), but you would still receive $4,600 of your $9,600 in benefits for the year (2017). ($9,600 - $5,000 = $4,600)

Customer: replied 9 days ago.
i know that one how is it going to work with me how much do i keep now every week

Keep 20-25% of what you earn each week.

Customer: replied 9 days ago.
what is that from going home with 338.00 clear . you know i went to macy's a lot of people are losing their jobs macy's is closing and i realized wow and i have a job and got health benefits i will keep working and be happy barb just tell me how much each week ,. and thank you for your kindness and help

About $70 per week.

Barbara and 3 other Tax Specialists are ready to help you
Customer: replied 9 days ago.
barb you are my friend today i did a lot thank you so much we were right for this year i made way under the limit looks like 14244.56 . with my loser part time jobs i started to get my w2 talk to you soon god bless you .

Thank you for the positive rating of my answer. I really appreciate it.

God bless you as well.

Stay in touch and be well....

Barb

Customer: replied 8 days ago.
you stay well . the weather is going to be good enjoy it my dear you are a nice lady. Barb it looks like it is a win win if i keep on working i get my health insurance . and make some extra money to keep me good . I know i could not make it with my s s alone i will start today with that 70 a week away. . stay close

It is a win/win because you love your job, they love you, you're making money, and you're healthy.

Customer: replied 7 days ago.
hey barb . this lady controller came today and gave every one the 1095 form from 2016 for health insurance and when i told her that i did not get the insurance from them i got my own from ACA for 2016 she said this paper she gave me just to keep it with me not for taxes should i worry

You will also get a 1095 from the Marketplace (ACA).

Bring both with you when you get your taxes done.

No. You don't have to worry.

Customer: replied 6 days ago.
no she said i did not need to take it with me just keep it i never took any thing from them for 2016 i started working there 2016 in sept. i told her that she said just keep it do not take it with me . i do not want to argue with her because i just do not know them well any thing to worry about can they i took it when i clearly did not take it on all my pay stub shows that thanks

I would take it with you just in case. You don't have to argue with her. It's part of your 2016 documents.

Customer: replied 6 days ago.
even though i did not take it from them can they say i took it and lie

No. Absolutely not. What you you have is an INFORMATION document.

Customer: replied 5 days ago.
love you Barb Have a great day

Thank you! You do the same.

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