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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3602
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 8 months 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 8 months 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 8 months 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 8 months 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 8 months ago.
what is suspend payment mean

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

Customer: replied 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months 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 8 months ago.
how much is that if after taxes and medical you go home with 338.00 a week .
Customer: replied 8 months 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 8 months 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 8 months 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 other Tax Specialists are ready to help you
Customer: replied 8 months 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 months 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 8 months 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 8 months 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 8 months 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 8 months ago.
love you Barb Have a great day

Thank you! You do the same.

Customer: replied 8 months ago.
hi there Barb i am doing what you told me to do save 70 a week trying to work and keep money away i am still paying for last year surgery could you believe that . i did not get 3 w2 still is that late thanks
Customer: replied 8 months ago.
barb i just found out 1 of the compnies i worked for went out how do i get my w2 form from them i made 156.50 with them

Employers have until 1/31 to send out W-2s to their employees.

You have some time.

Customer: replied 8 months ago.
do they have to send them out by law even if the place closed out

They do have to send them out, but that doesn't mean that they will if they went out of business.

Wait until the end of next week to see if you get it.

Customer: replied 7 months ago.
Barb i just looked on my page on s s web site it says my income for 2016 reported 5030.60 i made 14244.56 how come that rest was not reported yet thanks

Employers have until 1/31/17 to file the W-2s.

Don't worry about your SS page right now. Too early in the season for all records to be correct/updated.

Customer: replied 7 months ago.
Barb I have a question about medicar when i get to 65 do i get medicar based on my late husband's record thanks

You are eligible for Medicare on your own.

Customer: replied 7 months ago.
even if i did not work for alot of years and did not have a big income and does medicare last the rest of my life

Yes.

Customer: replied 7 months ago.
barb you know this is the first job i have where i feel so secure in and very easy i myself can not believe it it's really a good fit for me i am going to try and save a lot of it thjs year put away i really enjoy working and keep my mind off a lot of the saddnes that i have . and the extra is good for paying my bills thank you Barb

My pleasure.

Stay in touch.