shoop - 3/18/2024 13:06

You have to start taking it on your 70th birthday?   NO, but no gain (SS increase) to wait longer

what’s the last date they
use to calculate how much you will receive? Previous info from IRS that was sent (usually previous year income tax return). I just started this month, they used info up to 2022 income tax return, being 2023 stuff will not be transferred to SS from IRS until after April 15.

if you take Social Security at age 70, they start counting back from the last day you are 69 ?  Goes by month you turn 70, you get paid in arrears (my birthday is in March, my first payment will be in April.  If your birthday is in the first 10 days of month, payment will be direct deposited into your bank/CU account on 2nd Wednesday, if birthday 11th-20th, thrid Wednesday DD, 21st or after 4th Wednesday is DD day.


 Is Medicare already subtracted from amount of Social Security you were going to get or is it Medicare subtract off later?  Unfortunately, after (taxes come out first if you elect to having withholding, then Medicare)
so if I understand it right, I want to get as much income in while I’m 69 versus having a big year when I’m 70 ?? Depends on what your goal is, if minimizing taxation of SS, maybe, if trying to stay in or just barely use up a tax bracket maybe, if trying to pay more in current tax bracket before tax increases that happen when the Trump tax brackets disappear, maybe.  You expect income to drop (lower corn prices) maybe not.