Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

I have an SSN benefit calculation question, fl, no, Here's

Customer Question
I have an SSN benefit...
I have an SSN benefit calculation question
JA: What state are you in? It matters because laws vary by location.
Customer: fl
JA: Has anything been filed or reported?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: Here's my quandry I am 64.
My SSN statement shows my SSN monthly benefit amount at my full retirement age or 66 will be $2,000.00.
If I stop working now I will not be contributing to FICA.
If I remain unemployed for the next two years and apply for retirement benefits when I am 66 will that benefit amount still be $2,000.00?
Submitted: 1 year ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 7 minutes by:
9/24/2016
Tax Professional: emc011075, Tax adviser replied 1 year ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,236
Experience: IRS licensed Enrolled Agent and tax instructor
Verified

Hi. My name is ***** ***** I will be happy to help you.

Yes, it will. Your benefits are based on your lifetime earnings not on your contributions to FICA. Here's how it works. When you retire, the social security will look at all years you had social security earnings and select 35 best years (year in which you made most money). Those 35 years will be adjusted for inflation (increased by certain percentage) and used to calculate your average. Your benefits will be a percentage of that average. If you worked for more than 35 years, not earning anything for couple of years will not make any difference or change your benefits.

Ask Your Own Tax Question
Tax Professional: emc011075, Tax adviser replied 1 year ago

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

Ask Your Own Tax Question
Customer reply replied 1 year ago
I am on the phone
Can you call later?
Tax Professional: emc011075, Tax adviser replied 1 year ago

I did not requested a phone call. It's the website that gives you the option. We can continue here.

Ask Your Own Tax Question
Ask emc011075 Your Own Question
emc011075
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,236
3,236 Satisfied Customers
Experience: IRS licensed Enrolled Agent and tax instructor

emc011075 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:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,310 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,695 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
In a divoice. I am retired. My wife by law gets half my
In a divoice. I am retired. My wife by law gets half my pension, $ 217,964.61. Now they want 20% gross up for tax on the maximum transferable portion of my Omers pension of $ 217,964.61. Which adds up… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Does a law passed in 2006 prohibiting setting up a
Does a law passed in 2006 prohibiting setting up a scholarship fund for heirs have a "grandfathered" clause for trusts set up prior to 2006? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I applied for retirement benefits around 2 August of this
I applied for retirement benefits around 2 August of this year.. When do I get my first check? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,473 satisfied customers
Is computer equipment conviscated by law enforcement
Is computer equipment conviscated by law enforcement officials tax deductible … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Buying out members of Law Firm PLLC A law firm consist of 3
Buying out members of Law Firm PLLCA law firm consist of 3 lawyers 50/25/25. The two minor owners are going to buy out the 50% owner.1) Can the PLLC write a check to the 50 owner? If this happens, wou… read more
taxmanrog
taxmanrog
Master\u0027s Degree
698 satisfied customers
I am retired and my only income is SS retirement benefits.
I am retired and my only income is SS retirement benefits. My wife works and will make about $40,000.00 in 2017. I want to file married filing separate for 2017 - avoiding an any tax on my SS benefits… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
I'm retired, receiving ss retirement benefits. From this
I'm retired, receiving ss retirement benefits. From this year I receive also social security retirement payments from Slovakia, where I lived and worked until 1986. Question: are these payments fro Sl… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,473 satisfied customers
Are death benefits taxable in the state of Oregon? My wife
Are death benefits taxable in the state of Oregon? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
I am retired and own property in 2 states. Is it legal for
I am retired and own property in 2 states. Is it legal for me to live in Indiana for 8 months a year without having to pay Indiana's state income tax while I live in Florida for 4 months a year. I cur… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Tax law Employer provide rent for out-state employee, and
tax law Employer provide rent for out-state employee, and the employee should be able to exclude the value of the lodging from gross income. If we have the contract to stated that the employee must be… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Does Colorado state law follow IRC Section 1.761-2()(2)
Does Colorado state law follow IRC Section 1.761-2(b)(2) election to be excluded from Subchaper K for an LLC holding one investment property? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am retired and receive social security benefits. I work
I am retired and receive social security benefits. I work part time for a property management company and receive a 1099-MISC. Currently I earn $1500 a month. In my 2014 taxes I inadvertently entered … read more
Chad CFP ®
Chad CFP ®
Certified Financial Planner(R), Pro
Master\u0027s Degree
734 satisfied customers
Want to ask question about ss benefit for retirement. I
My name is***** and want to ask question about ss benefit for retirement. … read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
285 satisfied customers
When you have filed for social security retirement benefits
when you have filed for social security retirement benefits do you receive them retroactively from the day you file? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I moved from a community property state to a common law
I moved from a community property state to a common law state last year. My spouse earned no income but I did. Our join tax refund was offset for his child support debt. Can I file the injured spouse … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,220 satisfied customers
I am looking for case law in New York State that states an
I am looking for case law in New York State that states an attorney can be suspended from the practice of law by failing to pay tax lien judgments and/or even having a tax lien judgment … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
If a trust is a Qualified Retirement Benefits Trust is a
If a trust is a Qualified Retirement Benefits Trust is a form 1041 required to be filed? The trust started from parent retirement plan, placed in trust. Now RMD is ongoing, but is a 1041 required?… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I'm 71 and filing for divorced retirement benefits. I was
I'm 71 and filing for divorced retirement benefits. I was married over 10 years. My x husband is taking an early retirement. Do I receive 50 percent of his FULL benefits or his reduced benefits.… read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
682 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