Community Chat

[CelticCrafter]

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@gertrudecloset wrote:

The Federal Government does not tax Social Security benefits if it is your "sole" income.  The states are different, however.  My State does not tax any portion of Social Security if it is your sole income. 

Some states do tax a small portion.  If a state does tax the social security it is not the entire amount and only a certain amount of it with the rest of your combined income.

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I SAID IT DEPENDS ON INCOME LEVEL.....

So now not only are you the self proclaimed medicare know it all wizard, you're also an accountant that can't read or chooses not to read the entire comment.....

[gertrudecloset]

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@CelticCrafter wrote:

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@gertrudecloset wrote:

The Federal Government does not tax Social Security benefits if it is your "sole" income.  The states are different, however.  My State does not tax any portion of Social Security if it is your sole income. 

Some states do tax a small portion.  If a state does tax the social security it is not the entire amount and only a certain amount of it with the rest of your combined income.

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I SAID IT DEPENDS ON INCOME LEVEL.....

So now not only are you the self proclaimed medicare know it all wizard, you're also an accountant that can't read or chooses not to read the entire comment.....

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What's the point in all of this @CelticCrafter .  I'm not a self proclaimed anything.  If I added anything ~ it further solidifies what you said is accurate.  What is wrong with you people?  Can't take facts from people who don't think like you?  Give it a rest.  I know a lot about a lot of different things, I never claimed to be an expert on anything.   You should be ashamed of yourselves.  I must be pushing a button or something.

And furthermore, @CelticCrafter this is a FORUM.  I can respond to or not to any post on here.  I can add my opinion or add facts.  This is not a one way street (yet) for me. You sound like you think you can do something to keep me from posting my thoughts and adding factual data.  By the way, the data the proves what YOU said.  SMH

[gertrudecloset]

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@hckynutjohn wrote:

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@gertrudecloset wrote:

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@MamaWick wrote:

SS is not our sole income.  I have a pension, and we have our 401k.  We haven't needed to withdraw from the 401k (but will withdraw, of course, when we reach the mandatory age for withdrawal in a few years).  

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@MamaWickyou are lucky.  Lots of people rely solely on their income from Social Security for whatever their life circumstances are. 

@gertrudecloset 

That word luck seemed to follow me around much of my life. It had absolutely nothing to do with the direction of my life. I didn't hear you made some smart choices, I heard "you were lucky".

I met @MamaWick and Papawick here several years ago.They are very smart and wise people. You may consider their present circumstances as luck, I do not. I prefer giving credit to people have made wise choices, and not blanket everyone with "you are lucky".

Now this is said from my own life experiences of hearing that word and phrase said to me adnauseam. 

hckynut  🇺🇸

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I'm not inferring any luck on you @hckynutjohn .  You're complaining that the Program that was established in the 1930's which took a portion of your income for the very purpose of making sure you have something to fall back on when you retire may have somehow kept you from being rich.  You said you had no choice in the matter.  Well join the club.  You and everyone else who had to have their money taken out of their checks.  What makes you different from anyone else???  NOTHING.

I don't care who you met or when you met them.  Like I told the other poster she is lucky.  She is lucky in the fact that she had the wherewithall to plan.  Some people couldn't or wouldn't plan for their retirement.  She gets to reap the benefits of her planning and YES SHE is lucky to be here to enjoy it!

Don't respond to me again today.

[qvcaddition]

@gizmogal 

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@gizmogal wrote:

I'm not on tenterhooks. Can't change it, can't control it.

I'm grateful for anything I get. Always good to increase income and not have to depend on my nest egg to meet my financial obligations. Medicare premium is decreasing slightly. Glad for that, too. 

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I hope so.

[qvcaddition]

@SharkE 

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@SharkE wrote:

Medicare premium taken from your check is going down 7.00.

deductible is 226 not 233 like it was this yr.

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Mine went from 140 to 170 this year. Hope it goes down and not up.

[qvcaddition]

I have never been taxed on SS   With the new increase, I might  have to file taxes.  I'll see.

[MamaWick]

@gertrudecloset  I replied about SS not being our sole income in response to your statement the Federal govt does not tax SS benefits if it is your sole income basically to state we are not taxed on any of our retirement income as of now since we aren't withdrawing for our 401k yet. 

Taxation in our case is dependent on the total income and we do not cross that threshold (yet).  It is all about planning for retirement and our plan included no debt (no mortgage on our house, no car payments, credit cards paid off each month) at the time we left the workforce. That doesn't mean we won't have a car payment in the future.  Luck had nothing to do with it.

[gertrudecloset]

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@MamaWick wrote:

@gertrudecloset  I replied about SS not being our sole income in response to your statement the Federal govt does not tax SS benefits if it is your sole income basically to state we are not taxed on any of our retirement income as of now since we aren't withdrawing for our 401k yet. 

Taxation in our case is dependent on the total income and we do not cross that threshold (yet).  It is all about planning for retirement and our plan included no debt (no mortgage on our house, no car payments, credit cards paid off each month) at the time we left the workforce. That doesn't mean we won't have a car payment in the future.  Luck had nothing to do with it.

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@MamaWickYeah, I know.  I'm aware about all of this.  When some people retire, they have planners and financial advisors.  The have dividends other passive income and some may still work a little.  The fact remains that some will have to pay taxes on the excess of what their individual calls income.  That is different for each state and each state has a different income max.  The states I posted are the 12 states that DO in fact tax SS income to some degree. 

If you don't think making smart decisions with your earnings when you worked had anything to do with how you live now in retirement, then excuse me.  Why would it bother me?  I was giving you a "prop."  I take it back then...............................

Thx.

[MamaWick]

@gertrudecloset  I think we are misunderstanding each other.  

[Snowpuppy]

@hckynutjohn  always appreciate the input!

I'm not retired yet but I do pop in these threads once and awhile to get other people's experiences.

Just about everyone is stuck paying into "something"  so if not SS a few places still have pensions and those are mandatory contributions, too.