Re: Re: SSDI and taxes (from Joan to all)

[Guest guest]

Joan,If you file jointly, the amount of your SSDI and LTD that is taxed is based on your total income. IT is a percentage of that income.Each state is different in how the State taxes function, but the federal is a set percentage. As far as there being a set dollar amount--again I'm not aware of it working that way. It's good to hear from you--take care,Tracie

Tracie, Rose, ,

Thank you for your responses ... Oh, Rose, you poor dear ... I am just sick for you!!!

However, upon dinner with my family this evening (Rose, my stepfather is one of those lovely individuals who volunteers his time to do taxes for seniors and low-income families) ... anyway, I learned that since my company paid no portion of my LTD and I had paid all of the premiums, that I did not even have to report this income ... this is why I never received a 1099 from the LTD co. As far as SS, I did receive the SSA-1099. I filed separately as this worked in favor ... therefore, even with my 401K withdraw, I am still getting back almost $1500 and $70 state (NJ does not recognize 401K withdraws for disability; Federal does not require a penality for withdrawing due to disability).

If anyone is wondering ... for a single person, SS is only taxable (federal) if your total income is over $25,000, and only that dollar amount over $25K is taxable (do not include any deductions yet ... in other words, if you receive 18K SS, and have 14K income from elsewhere, then you need to file a return since 18+14 equals more than 25K.

When I came home tonight, I figured I might as well start plugging in numbers into Turbotax and see how much damage there really is...and I kept seeing a "refund" amount! Turbotax is an awesome product ... anyone can do his/her own taxes with this ... it misses nothing -- and this year, if you itemize, it even sends you right into "deduct it" and provides the IRS's dollar amount guidelines for charitable donations, etc.!!! I got really tired of overlooking and finding errors when various accountants did my taxes for almost $200!!! I got really tired of filing 1040X's for previous years' errors and having to do these myself anyway.

Oh, Rosie, I wish I were wealthy ... I'd pay off your taxes plus more ... I'd help everyone in the group if I could. This really gets me angry when people like us (non-wealthy) ever owe that kind of money ... there should be a law about that ... just like they have these loopholes and laws for the rich!!!

Okay, taxes done ... still more paperwork to do, but that's okay ...

I really feel terrible that I've been away from the group for so long ... I've been looking for posts from Kim and recently just saw them. (Kim, I'll send you a note soon ... you have never been away from my thoughts ... ever ... I've thought about and prayed for you -- and the group -- daily. I thought you were hospitalized all this time since you have been so very sick and I haven't heard from you. I'm so very sad for you ... I re-read our last e-mail exchange ... I wish we could talk on the phone. My boss was going to look into "international" cell phones for us ... hey, I need to remind him of that.)

I've been pretty much the same as usual ... something different every week. I have sooooo many tests to schedule, and I never do it ... I feel overwhelmed with them all ... MRI's, MRA's, blood tests at a new lab since I've changed insurances, dr. appts., new specialists, rescheduling specialists that I've cancelled because I was too sick to go, etc., etc., etc. ... each week, I say this week. And, I just keep gaining more and more weight ... I barely eat, but the low metabolism just keeps adding on lbs. from who knows where ... no, I'm not on prednisone. I finally have gotten some help for my legs ... it turns out I have bilateral lymphedema. I get massage therapy (which is very enjoyable!), and wear custom-fit, $200-a-pair stockings. This is another reason I have not been on line much ... I cannot keep my legs down long ... in fact, they are getting big on me now, so I must get them up in bed.

I think about and pray for all of you every day. I may not be around, but you're all always in my thoughts and prayers ... every day!

Love, prayers, and hugs to all!,

Joan