Question:
Judi (Kandiyohi, Minnesota) on 04/08/2009 15:09:15 asked:
My husband turns 62 in June. He taught school for 34 years, reached the Rule of 85 in 2001, and started drawing his pension. He now works as a paraprofessional in special education, earning approximately $13,900 per year. I work full time, earning approximately $36,000 taxable. He thinks he wants to start drawing his Social Security benefits (about $1266/mo) and continue working. My question is - what will that do to our tax situation? His pension annuity is aprox $2400 per month of which only about $25 is from taxed earnings-the rest was pre-tax and we pay income tax on that. We have one college student dependent and own our home
Answers:
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