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Baby Boomers

SheilaT

(23,156 posts)

22. Once you turn 66 they won't take

Reply to llmart (Reply #21)

Wed Oct 15, 2014, 08:02 PM

Oct 2014

away any of your SS. If you earn "too much" money, starting at $25,000 for a single person, you will pay taxes on part of your SS income. And since I doubt there is ever any withholding from Social Security, you will need to be prepared to write a check for what's owed.

And if you're lucky enough to earn above some amount, you pay even more for Part B and Part D. It's still a hell of a lot cheaper than most plans out there.

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Can I ask a stupid question about retirement here? [View all] wryter2000 Jun 2014 OP

if you put that exact question into Google dixiegrrrrl Jun 2014 #1

good link OKNancy Jun 2014 #2

You still have to pay Medicare part B. El Supremo Jun 2014 #3

Many thanks wryter2000 Jun 2014 #4

I don't think you can retire here. Skinner won't allow it. ret5hd Jun 2014 #5

Damn wryter2000 Jun 2014 #6

You do not pay Social Security or Medicare tax on your Social Security. You do pay on Hoyt Jun 2014 #7

Very helpful wryter2000 Jun 2014 #8

What others have already said. SheilaT Jun 2014 #9

It's not about avoiding taxes wryter2000 Jun 2014 #10

Very good. SheilaT Jun 2014 #11

You said a mouthful wryter2000 Jun 2014 #12

Well, Sheila, it's all about how much the retiree is getting.. whathehell Oct 2014 #13

If your only income is your measly social security check, SheilaT Oct 2014 #14

Well, that's very good.. whathehell Oct 2014 #15

There is some minimum below which there are no federal income taxes SheilaT Oct 2014 #16

Thanks for that information, Sheila T. whathehell Oct 2014 #17

and that's why they may LiberalElite Mar 2015 #25

I posted this earlier but here is info about taxes on SS OKNancy Oct 2014 #18

I paid federal taxes on a portion of my income..... llmart Oct 2014 #19

The rule about your SS being reduced SheilaT Oct 2014 #20

Just because it's been around forever.... llmart Oct 2014 #21

Once you turn 66 they won't take SheilaT Oct 2014 #22

Yes, I already know that they won't take any next year.... llmart Oct 2014 #23

All I can say is that at least you already know about this, SheilaT Oct 2014 #24