Social Security

Ask social security questions and get answers ASAP

Ask an Expert,
Get an Answer ASAP!

I’m have been collecting my deceased husband’s monthly SS…

Customer Question
Second opinion] I’m have...

Second opinion] I’m have been collecting my deceased husband’s monthly SS benifts . I stopped working full time in order to meet the criteria .

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits properly. Please tell me more, so we can help you best.

I resigned a 33 year Job & has a 403b retirement fund . I cannot keep up the maintenance of my home, can I withdraw money from there without it being earned income ?

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

No... just need an answer please

Submitted: 4 months ago.Category: Social Security
Show More
Show Less
Ask Your Own Social Security Question
Answered in 1 hour by:
3/18/2018
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,678
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

Hi. My name’s Lane …

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, to clients on three continents, since 1986.

I’m reading your question now.

Bear with me a moment while I type up my response.

….

Then if you have further questions we can go from there.

Ask Your Own Social Security Question
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago

Withdrawal of money from retirement accounts is not earned income.

...

Ask Your Own Social Security Question
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago

If your question is about this AFFECTING your social security benefits, it will not.

...

Only wages or self employment income are earned income.

Ask Your Own Social Security Question
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago

Rents, retirement account withdrawals, monthly pensions, dividends, interest, gambling winnings, NONE of that is earned income.

...

Only wages paid to an employee, or self-employment income (profits from a business) are earned income.

...

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

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars on your screen, and then clicking “submit")

That’s the only way JustAnswer.com will credit me for the work.

...

But again, let me know if you need more here,

Lane

Ask Your Own Social Security Question
Customer reply replied 4 months ago
If I made a withdrawal on my 403b
Would my tax bracket increase if I am not at FRA?
And I would definitely pay taxes on any $ withdrawn
Customer reply replied 4 months ago
I rather not pay the 53.00 to get an answer
So sorry ... I really don’t have that type of money to spend ... I live on my husbands SS & pension check
You answered my question but had the 2nd part to ask
Customer reply replied 4 months ago
Can I get an answer to my question above
Answered ... don’t think you answered the doctors question. And I read “an additional question ( which was connected to my original question needs to be answered )
Would NOT be charged
Customer reply replied 4 months ago
Not doctors question , I meant the entire question
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago

You will always pay taxes on any amount withdrawn from a 403(b) unless it's one of the few plans that allows for after tax money .. and in that case the tax deferred growth comes out first, and is taxable.

...

(Disregard that call offer that the site makes. That doesn't come from the expert. JustAnswer does that automatically. No need for a call here)

...

But NO, withdrawals from ANY account ... qualified plans, which is taxable OR other types of accounts - is never earned income for purposes of the earned income limit for those under FRA ... or any other purpose.

...

Earned income is a very specific tax term (adopted by Social Security for this purpose) meaning Wages or self-employment business profit.

...

Just becasue something is taxable does NOT mean it's earned income.

...

Hope that helps,

Lane

Ask Your Own Social Security Question
Customer reply replied 4 months ago
Lane
So I’m still not clear . Withdrawing money from my 403b , will raise my tax bracket & if so what exactly does that mean ?
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 4 months ago

We have a progressive tax rate system. Your entire year's worth of income isn't taxed at the same rate.

...

But rather, as you make more and more income through the year after getting to certain thresholds, that next dollar will be taxed at a higher bracket.

...

SO the distribution may or may not take those incremental (additional) dollars of income for the tax year into a higher bracket (depending on where you are in those brackets with the income that's already there.)

...

Here are the brackets for single and joint filers:

...

2018

Rate ..........Individuals........................Married Filing Jointly

10%.......…..Up to $9,525..................…..Up to $19,050

12%............$9,526 to $38,700.........…..$19,051 to $77,400

22%......…...$38,701 to $82,500............$77,401 to $165,000

24%............$82,501 to $157,500.....…..$165,001 to $315,000

32%......…...$157,501 to $200,000..…...$315,001 to $400,000

35%............$200,001 to $500,000..…...$400,001 to $600,000

37%............over $500,000.............……..over $600,000

2018

Rate ..........Individuals........................Married Filing Jointly

10%.......…..Up to $9,525..................…..Up to $19,050

12%............$9,526 to $38,700.........…..$19,051 to $77,400

22%......…...$38,701 to $82,500............$77,401 to $165,000

24%............$82,501 to $157,500.....…..$165,001 to $315,000

32%......…...$157,501 to $200,000..…...$315,001 to $400,000

35%............$200,001 to $500,000..…...$400,001 to $600,000

37%............over $500,000.............……..over $600,000

....

As you can see above, income from $9,526 to $38,700, for a single filer, is taxed at 12%.

...

SO if you are a single filer and income (not counting the 403(b) distribution) is already going to be at, say $14000 for the year, a distribution of another 24,000 from the 4013(b) would all STILL only be taxed at 12%

...

But if you took, say 30,000 from the 403(b), the amount that this takes your total taxable income over 38700 would be taxed at that next higher tax bracket of 22%.

...

But (very important point), that doesn't mean that all of a sudden ALL of that tax year's taxable income is taxed at 22% ... It just means that the amount of total taxable income over $38,700 is taxes at 22%.

Ask Your Own Social Security Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a social security expertLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Lane Your Own Question
Lane
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,678
14,678 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986

Lane is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

dylatess

dylatess

ATTORNEY

3,467 satisfied customers

37 plus years of SSD practice

Megan C

Megan C

Certified Public Accountant (CPA)

4,582 satisfied customers

Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level

LawTalk

LawTalk

Attorney

3,071 satisfied customers

I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

R. Klein, EA

R. Klein, EA

Accountant

334 satisfied customers

Tax & Social Security Benefits specialist

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

233 satisfied customers

Licensed in multiple jurisdictions, experienced business attorney.

AttorneyTom

AttorneyTom

Attorney

16 satisfied customers

Attorney

Stephanie O Joy, Esq

Stephanie O Joy, Esq

Soc. Sec. Attorney

3,283 satisfied customers

22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.

< Previous | Next >

Related Social Security Questions
I am recently collecting my deceased husbands SS. My
my question is , can I go into my 403b to withdrawal some money needed for my home . … read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
I'm have been collecting my deceased husband's monthly SS
I'm have been collecting my deceased husband's monthly SS benifts . I stopped working full time in order to meet the criteria . … read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
I am a retired teacher who has been working part time as a
I am a retired teacher who has been working part time as a consultant to the school district I taught in before retiring. My duties included technical support with new technology, assistance to teache… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
My husband decease,i an 60 work full time can I collect his
My husband decease,i an 60 work full time can I collect his widow social security while I still work full time. … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor\u0027s Degree
3,094 satisfied customers
I'm a 71 year old widow. I've heard I will lose my deceased
I'm a 71 year old widow. I've heard I will lose my deceased husbands social security benefit, if I remarry. Is that still the case?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
My 85 year old mother is blind from macular degeneration
Hi: My 85 year old mother is blind from macular degeneration and has now been diagnosed with Dementia QQQQ Mom was married for 35 years to her first husband they divorced when they were both 55 years … read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
I was married in 1959 and divorced in 1992 from first
I was married in 1959 and divorced in 1992 from first husband now deceased. Age 33 div. I married again in 1994 and divorced in 1999 from second husband now living. Age 55 div. I married again in 2010… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
I am eligible for widow's benefits in December 2014 & will
I am eligible for widow's benefits in December 2014 & will have my deceased husband's social security benefits deposited automatically beginning on the 3rd Wednesday of the month of January 2015. I ha… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
I have been married twice, my second husband has died but only
I have been married twice, my second husband has died but only a little ss would be added on to mine. Should I wait until my first husband dies because of the greater SS I would receive? Could I colle… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
My ex-wife and I were divorced in 1977 after 12 years of marrage.
My ex-wife and I were divorced in 1977 after 12 years of marrage. She remarried shortly after that and was larried for 33 years to her second husband. She is drawing ss from him because his was higher… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
i have 2 children in college,my husband(their father)died in
i have 2 children in college,my husband(their father)died in Oct.2011,are they eligable to collect on his s.s.(they r both full time students)?… read more
R. Klein, EA
R. Klein, EA
Accountant
Master's Degree
334 satisfied customers
I am wondering if I could collect on my ex husbands social
I am wondering if I could collect on my ex husbands social security. We were married for 17 years. I remarried and was married to my second husband for 20 years. My second husband passed away in 2009 … read more
LawTalk
LawTalk
Attorney
Juris Doctor
3,071 satisfied customers
My husband was killed on the job in 1971. My daughter and I
My husband was killed on the job in 1971. My daughter and I both received monthly checks from ss until she was 16 years old. At that time the both checks stopped. My question now is, will I be able to… read more
LawTalk
LawTalk
Attorney
Juris Doctor
3,071 satisfied customers
How does age & inability to hold job since TBI effect my ability
How does age & inability to hold job since TBI effect my ability to receive TBI disability benefits? My TBI occurred in Sept 1997. Prior to the car accident with TBI , I earned approximately $25,000 e… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
A person has Medicare coverage because of the kidney transplant.
A person has Medicare coverage because of the kidney transplant. The person also receives social security disability benefits that started 6 months after the kidney transplant, because of the kidney t… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
4,582 satisfied customers
Hi, I JUST TURNED 64, (11/27/47). BEEN MARRIED SINCE HIGH SCHOOL
Hi, I JUST TURNED 64, (11/27/47). BEEN MARRIED SINCE HIGH SCHOOL AND NEVER WORKED MUCH, SO I CAN ONLY QUALIFY FOR $100/MO SS OF MY OWN….BUT I UNDERSTAND I CAN CLAIM AGAINST MY HUSBANDS SS MINUS THE $1… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
My husband died earlier this year and I elected to keep receiving
My husband died earlier this year and I elected to keep receiving his social security benefits. If I were to remarry, would I lose those benefits? return to receiving my own benefits? get half my dece… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
I am 55 years old and have been on ss disability for over 10
I am 55 years old and have been on ss disability for over 10 years. I do have a job, but have only been able to work a few hours a week. Through my divorce I have been awarded a portion of my ex-husba… read more
TaxTom
TaxTom
Accountant
Bachelor\u0027s Degree
14 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x