Pros and Cons of doing the "double-dipping"

[VolvoGirl]

Yes your SS will be taxable.  But only a part of it.  It will be added to all your other income.   So you should have withholding taken out  of the SS or increase some withholding on something else to cover the tax.  

Is your Social Security taxable?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/social-security-inco...

See this Social Security page for taxes on your benefits
https://www.ssa.gov/benefits/retirement/planner/taxes.html

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

Also if you make too much other income then SS will deduct more for Medicare IRMAA from your SS checks. 

[ecwangus]

You're the best!

On the W4-V it says do not send the completed form to IRS, give it to my payer. In my case, my employer? Thank you!

Erika

[Cindy4]

Please take it to your local social security office.

Thank you!

[VolvoGirl]

Give the W4V to Social Security.  Or you might be able to sign up for withholding directly on the SS website.

[ecwangus]

DUH... thank you so so much!!!

[Cindy4]

You're welcome!  I hope you have a happy retirement!

[VolvoGirl]

How to request Social Security withholding
https://www.ssa.gov/manage-benefits/request-withhold-taxes

[ecwangus]

Thank you, though not any time soon... FYI, I am in good health, have a good job and still love what I do, so plan on working till I turn 70 🙂 BTW, where are you based? Are you with Turbo Tax? I lost my accountant for 20+ years to a car accident, still searching for someone I feel comfortable working with, I really enjoyed our cyber interaction so far... Thanks.

Erika