I am 65 years old and collect survivor benefits I was wondering how much I am allowed to make working at my job while collecting these benefits. I know if I was collecting Social Security at this age I would only be allowed to make $17,040 per year but I couldn’t seem to find out if there is a difference between these two benefits and how much I can make
Hi,
I plan to retire at 60 and collect SS widows benefits. I may want to work very part time. I understand the 2020 earnings limit is $18,240/yr which comes to $1,520/mo. If I earn only $12,000 but earn it in 2 or 3 months (vs. $1,000/mo spread over the full year) will I be penalized? In other words is there a "monthly limit" of what I can earn or is there only an annual limit?
Thank you!
Hi,
My spouse starting drawing retirement benefits before FRA. Then she decided to work part-time as a self-employed sole proprietor. She has gone over the earnings limit this year and we need to let the Social Security Administration know. What I can't figure out is whether for the earnings limits reduction, "net earnings from self-employment" includes the deduction for our family's health insurance. I know that when you pay self-employment taxes, the deduction for health insurance is not included in that calculation.
Happy New Year to you and thank you in advance for responding to my question: I started receiving widows benefits when I turned 60 in September of 2014. First check was in November 2014. I will be 66 in September of 2020. If I'm right in assuming that my Total Gross pay less the 401K, Aflac, Dental, HSA & Optima health deductions are the pre-taxed items that come out of the gross wages, then my total Social Security wages would be around
My birth date is Sept. 15, 1956 and I am collecting SS but working full time. That means that they are withholding about 6 or 7 months of benefits because I'm over the earning threshold. The year I reach full retirement I would not have to have anything withheld because the earning limit is more then i would earn anyway. But my question is; when can I start keeping all the benefits and still work full time ?
Hi Larry,
I am thinking about turning on my wife's social security ( or half of mine and let her's grow) starting 1/1/20. She will be 66 on Nov 20, 2020. She makes about $60k/year. The SSA website states…
In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit. In 2020, the limit on your earnings is $48,600, but we only count earnings before the month you reach your full retirement age.
I am 62 years of age , and collecting widows pension. I am hoping to retire next year when im 63. I only collect six months out of the year. I will only get 45% of the salary I bring home now. Will I start collecting every month from SS instead of six months out the year?
Hi,
Hello,
Are earnings for caregiving for a disabled adult daughter, who lives in our home, excluded from the annual SS earnings limit?
In 2019, the annual earnings limit for those under full retirement age (FRA) is $17,640. Pensions are not counted toward the earnings limit. As paid caregivers to our disabled adult daughter, the caregiving income is excluded from taxes based upon the parents caregiver tax exemption Notice 2014-7. My assumption is caregiving income would not apply to SS income earnings limit.
Our story:
I have filed for retirement benefit at age 63.5. Have a disable Adult child and filing for there benefit now as well. She was disabled before the age of 22. My questions are regard spousal in care of child benefit. My husband is 64 and has not filed for benefit yet and may delay until 70.. Is there an earning limit regarding how much he can earn if he is collecting a spouse benefit on my record for a disabled child in care?
Hi,