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Recent Tax Credit questions

I'm a US citizen. I'm intending to live overseas in the near

I'm a US citizen. I'm intending to live overseas in the near future. I understand how the foreign tax credit works. One thing I'm not sure of though is this: let's say I have self employed, U.S.A. sourced foreign earned income of say $50,000. As you know, I'd pay social security tax on this if I lived in the U.S.A. and, as far as I know I'd still pay social security tax on this if it is U.S. sourced self employment income earned while I lived overseas. As you also know, the social security taxes go towards social security income when I retire. What I'm not sure of is I have a foreign tax credit or the foreign earned income exclusion will I still pay social security taxes to go towards my social security when I'm 70?

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TaxRobin

Vocational, Technical or Trade School

25,004 satisfied customers
I will retire in 5 years at age 70 and receive an estimated

I will retire in 5 years at age 70 and receive an estimated $3000/month benefit. If I work 10 hours a week after age 70 earning $2000 before taxes will my social security benefit be decreased?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: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,570 satisfied customers
I am getting rdy to file for my SS benefits. I am 66, but

I am getting rdy to file for my SS benefits. I am 66, but will still be working. I live in MN so I will need to pay tax on that. I have the w-4v form filled out but cxab't seem to print out my ss foram wich I have filled out on line. I am not sure how much I need to take out for the taxes, or how to go about filing them togetherJA: 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: not that I can think of just need to know how much to have taken out and how to go about filing the forms together. The amounts they give are 7% 10% 15% or 5

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,570 satisfied customers
My husband retired from PPG 3yrs ago. He is 66 years old and

My husband retired from PPG 3yrs ago. He is 66 years old and on medicare and ppg group insurance. He has been given notice that PPG is dropping him from their group plan and he will have to purchase his own secondary insurance. Is this normal? Can we stop them from "transitioning" him out after 42 years as a employee. Thank you Leeana Shemon

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,570 satisfied customers
I FILE TAX TO GET EITC SON I GET SSI NOW SSI SAID I OWE

I FILE TAX TO GET EITC FOR MY SON I GET SSI NOW SSI SAID I OWE CAUSE OF AN OVER PAYMENT IS THERE ANY WAY IT COME BE WAIVER

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TaxRobin

Vocational, Technical or Trade School

25,004 satisfied customers
I am 62 and will be 63 on November 22. My question is can I

Hello, my name is***** am 62 and will be 63 on November 22. My question is can I receive my SSA retirement?

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lev-tax

Retired

Bachelor's Degree Equivalent

25,404 satisfied customers
My social security payment now is $737.00 per month. How can

My social security payment now is $737.00 per month. How can I have it raised in order to help pay for my granddaughter's tuition at the University she was accepted in?

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lev-tax

Retired

Bachelor's Degree Equivalent

25,404 satisfied customers
My question is I just found out that I was suppose to report

Hello, my question is I just found out that I was suppose to report my son social security benefits because I carry him a a dependent he's disabled and 34 I don't think they give me any credit for him but my daughter get a credit for being a minor. What should I do? Please answer.

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Stephanie O Joy, Esq

Managing Lawyer/Advocate

Doctoral Degree

12,134 satisfied customers
Does a SSD recipient need to notify the local Social

Does a SSD recipient need to notify the local Social Security Office when starting a 9-month trial work period? If yes, what is the reporting procedure? Does he/she have to inform the new employer of same? Will the hiring company receive a tax credit for employing a SSD recipient?

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LawTalk

Attorney at Law

Juris Doctor

37,258 satisfied customers
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