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Hi, am I still under my $30 agreement of last week?

Hi, am I still under...
Hi, am I still under my $30 agreement of
last week?
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Answered in 3 minutes by:
4/1/2013
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,592
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Verified
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

You said:

Hello again, I replied to you rating. Very good and helpful and answered


question totally satisfactory. Now here's another regarding social security


and taxes. Hopefully I am still under my original $30 agreement of last


week. Not sure if I should claim all of s.s. Received $18,127.10 from


them and am referred to a work sheet for "if all is taxable". Does this


also included the rest of my income? Or is that just a separate ??. According to the work sheet, the calculations say I'm liable for only $5,037.76. Is that possible? Hopefully it's true.

 

The answer: Yes, it's true - not all of your social security is taxable. How much is taxable depends on your other income. So, if you worked the worksheet and you only owe tax on $5,037 then that is all you owe taxes on.

 

Please let me know if you need anything additional. Thanks again for using JustAnswer.com and have a great day.

 

 

 

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site. This answer is not to be construed as financial or legal advice. Please contact a local tax professional, and do not rely on this assessment to avoid penalties or to make financial decisions. This is for informational purposes only**


You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.

 

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Customer reply replied 4 years ago

Wow, that's fantastic; at least for me. Follow up related question: accord-


ing to work sheet I am to put this figure on line 20b. Does any amount


go on line 20a? And, you have been very helpful.

On line 20a you put your entire social security amount. SO the $18K figure.

Thanks, Barbara. Please let me know if you need further assistance. Please don't forget to rate this response as well so that I may receive credit for assisting you again. Thanks again for using JustAnswer.com

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site. This answer is not to be construed as financial or legal advice. Please contact a local tax professional, and do not rely on this assessment to avoid penalties or to make financial decisions. This is for informational purposes only**


You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,592
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Verified
Megan C and 87 other Tax Specialists are ready to help you
Ask your own question now
Thank you for the positive rating. Please come back and see me next time you have a question. It was a pleasure working with you today. Have a great afternoon.
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Megan C
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,592
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Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

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