Wife and I got our social security raise this month which is a good thing but also notified our Part B premium went up to $144 and deductible rose to $198 not so good. But my biggest gripe is this also puts me closer to the IRS section on do my Social Security payments get taxed which for joint is $32,000.
Half our social security and all other income must be below this before part or all social security is taxed.
If the IRS would let me at least deduct the premiums or raised the amount $32,000 every year they give me a raise it would be a more fair game. As I get closer to that $32000 I wonder if we would be better off with no raise and don't raise my premiums. Im getting closer to the $32000 which one would think ok I'm making more money but after the premium and deductible increase Im not really making that much more.
Thanks for letting me vent. Maybe 2020 the #32000 will be higher. Its that time of year...….steve
Half our social security and all other income must be below this before part or all social security is taxed.
If the IRS would let me at least deduct the premiums or raised the amount $32,000 every year they give me a raise it would be a more fair game. As I get closer to that $32000 I wonder if we would be better off with no raise and don't raise my premiums. Im getting closer to the $32000 which one would think ok I'm making more money but after the premium and deductible increase Im not really making that much more.
Thanks for letting me vent. Maybe 2020 the #32000 will be higher. Its that time of year...….steve