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Old 03-11-2016, 07:42 AM
 
108 posts, read 81,523 times
Reputation: 114

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My fiancé turns 62 in May. In June, he will have an $829 monthly pension / annuity payment, $988 in Social Security (for him), and $655 in Social Security (for our minor son), for a total of about $30,000 a year. He files as Single Head of Household and claims me and our son as dependents. We will take out a total of $125 monthly in federal taxes. Is this enough withholding?

PS - After a surgery in April, I will be looking for a part-time or full-time job to supplement our income, so he will not claim me as a dependent in the future. FYI, we agreed that I would be a stay-at-home mom to our son for three years...and we were able to pull it off on one income just fine. But I am only 44 and it is time for me to get back into the workforce.
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Old 03-11-2016, 08:10 AM
 
Location: Florida
4,358 posts, read 3,694,371 times
Reputation: 4084
Go to the IRS sites and you will find vendors that let you do your taxes for free. Use the current software and put those numbers into the program and you will get your answer. Be careful to delete the return and not file it.
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Old 03-11-2016, 12:08 PM
 
Location: Alaska
5,356 posts, read 16,342,402 times
Reputation: 4023
I ran your numbers through a 2015 tax calculator and according to it, your tax liability is $0. The main reason is his SS benefits are tax-free at this income level. So, I would have nothing withheld, but save a small portion of the withholdings incase your income numbers are greater. For instance, if he worked in 2016 before retiring.
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