SS checks may stop after Oct 17.

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Well, I spoke to someone at SSA about my account today.

The good news is, I should get my first check this month. :)

The bad news is, after taxes, it will be $532 per month. :(

I guess there will be no vacations ahead for me in my golden years. Sigh….
 
Reba said:
Well, I spoke to someone at SSA about my account today.

The good news is, I should get my first check this month. :)

The bad news is, after taxes, it will be $532 per month. :(

I guess there will be no vacations ahead for me in my golden years. Sigh….
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You are leaving out what you get in military pension. I am under the impression that there is what they call "double dipping" and one federal source affects the amount available from another.
 
Yup, one of stealthy cuts on benefit that nobody knows until those who gets them gets by surprise and nobody else believes that.

15 years ago, no problem, this won't happen. Sad!

Jane B. said:
You are leaving out what you get in military pension. I am under the impression that there is what they call "double dipping" and one federal source affects the amount available from another.
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Reba said:
Well, I spoke to someone at SSA about my account today.

The good news is, I should get my first check this month. :)

The bad news is, after taxes, it will be $532 per month. :(

I guess there will be no vacations ahead for me in my golden years. Sigh….
Click to expand...

Yes, SS is taxable income if you make more than $25,000.

I think that make SS as taxable income is bad idea.
 
Yup, and I agreed, it is another stealth SS cuts that government made. Nobody noticed this, but you are right. 15 years ago, SS was 100% tax free regardless, not anymore. :(

Foxrac said:
Yes, SS is taxable income if you make more than $25,000.

I think that make SS as taxable income is bad idea.
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Jane B. said:
You are leaving out what you get in military pension. I am under the impression that there is what they call "double dipping" and one federal source affects the amount available from another.
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According to the SSA, that's not true.

Effect of military retirement on Social Security benefits

How will my military retirement affect my Social Security benefits?

You can get both Social Security benefits and military retirement. Generally, there is no offset of Social Security benefits because of your military retirement. You will receive your full Social Security benefits based on your earnings. However, your Social Security benefit may be reduced if you also receive a government pension based on a job in which you did not pay Social Security taxes.

Effect of military retirement on Social Security benefits


The part about "job in which you did not pay Social Security taxes" usually refers to people on active duty during the years prior to the time SS was withheld from the military. That's before my time. I have always had taxes withheld from my military pay, including my military retirement pension.

Double dippers are people who retire from the military then get a civil service job.
 
Foxrac said:
Yes, SS is taxable income if you make more than $25,000.

I think that make SS as taxable income is bad idea.
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Is that joint or single? On my military retirement income alone, I make about $14,000.
 
Sorry, I just found out new changes, my income had dropped in the last two years and I didn't realize they changed. Now single *OR* married but file separately AND lived separate is $25K, Married is $32K when filed jointly. $0 if file separately AND living together.

Reba said:
Is that joint or single? On my military retirement income alone, I make about $14,000.
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Depends on her husband income, if her husband income exceeded $18K then yes it is taxable, if not then no, as long as they file jointly.

Reba SS $14,000 + Her husband income $18,000 = $32,000+ then its (Reba's SS benefit) taxable

Reba SS $14,000 + Her husband income $17,999 = $31,999- then it (Reba's SS benefit) is not taxable.

That rule was not even on paper back in 90's or earlier. Nobody knows, congress took advantage of Americans overlooking these stealthy cuts on SS. I know it long time ago, you (Crazypaul) didn't believe me because you thought it was illegal, now you are seeing it and its already too late since its been on book for long time.

CrazyPaul said:
Is it taxable income as well?
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diehardbiker said:
Depends on her husband income, if her husband income exceeded $18K then yes it is taxable, if not then no, as long as they file jointly.

Reba SS $14,000 + Her husband income $18,000 = $32,000+ then its (Reba's SS benefit) taxable

Reba SS $14,000 + Her husband income $17,999 = $31,999- then it (Reba's SS benefit) is not taxable.

That rule was not even on paper back in 90's or earlier. Nobody knows, congress took advantage of Americans overlooking these stealthy cuts on SS. I know it long time ago, you (Crazypaul) didn't believe me because you thought it was illegal, now you are seeing it and its already too late since its been on book for long time.
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No, I was asking if her military retirement income is taxable or not.
 
Income is income, that is how IRS sees it. If you were at baseball game, and you caught that ball that player made famous home run, IRS will knock your door and hand you tax bill. IRS sees it as income that you just made from baseball player. Sad? Indeed!

SSI is exempted, why? Because of law so written that it will never go over the income threshold to make it taxable. SSDI and SS has potential of going over exemption when combine other income.

CrazyPaul said:
No, I was asking if her military retirement income is taxable or not.
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diehardbiker said:
Income is income, that is how IRS sees it. If you were at baseball game, and you caught that ball that player made famous home run, IRS will knock your door and hand you tax bill. IRS sees it as income that you just made from baseball player. Sad? Indeed!

SSI is exempted, why? Because of law so written that it will never go over the income threshold to make it taxable. SSDI and SS has potential of going over exemption when combine other income.
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Oh, that sucks.
 
Jane B. said:
You are leaving out what you get in military pension. I am under the impression that there is what they call "double dipping" and one federal source affects the amount available from another.
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Since I posted this I turned to Google for more sites to look at. What makes it understandable that I was behind is that I am older than Reba. I found that a change in military pensions was made in 1957 and even though that was during my high school years I knew those that were in well before that.
 
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