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Earnings Test

Would My Income As A Contractor Be Averaged When Applying The Special Monthly Earnings Test?

I am retiring at the end of August from my W-2 job. I turned 61 in July of this year and am claiming Widows benefits to begin effective September 1 (my first check will be in October). My question -- I understand there's a special rule the first year of claiming SS benefits with regard to the earnings limit. If I work as a contractor in Sept, Oct, Nov and Dec -- how much am I allowed to make? I believe it's $1,580 per month. But do they spread it out over the 4 months? In other words if I make $2,000 or $3,000 in September, and nothing else the remainder of the year....

Thursday, August 19, 2021 - 19:52

How Do I Document For SSA That My Income Doesn't Count For The Earnings Test?

I plan to retire in 2 years at age 62 because I have young children who will get checks along with me and my wife as their caretaker. I am self-employed (LLC) and I am winding down my business (no new clients, no new work) but because of the nature of my business, I get paid some time, (often several years) after I do the work. I have about $1 million in receivable for work done over the last several years that will continue to roll in over the next few years.

Monday, August 16, 2021 - 14:24

What Impact Would It Have On My Benefits If I Suspend My Benefits And Increase My Earnings?

Hi Larry,

I started taking my SS at age 62 & am now 65 1/2. I continued to work & earn the approved amount set by the SSA during this time. I would like to suspend my SS & start earning more money during this economic downturn to make ends meet. What impact does this have on my SS benefits & am I required to payback what I have withdrawn from 62 to current age or from January until I request the suspension? My current employer has offered to increase my pay. I will be 66 in January 2022.

Tuesday, August 3, 2021 - 09:48

Which Months Of My Earnings Count Toward The Earnings Limit?

I started receiving my Social Security benefits March of 2021 at the age of 65 and 2 months. My full retirement age is 66 and 4 months. I am restricted to making $18960 without penalty. does the $18960 ceiling go thru December 2021 and start over in January 2022? does it go from March 2021 thru March 2022 and start over in April 2022 until I reach 66 and 4 months full retirement age on May 18, 2022?

Sunday, August 1, 2021 - 11:55

What Is The Amount You Can Earn And Still Draw Your Benefits?

What is the amount per year that you can make by still working and you still draw your benefits.because I am 62. I am undecided should I apply for my benefits or wait.

Hi. The Social Security earnings test exempt amount in 2021 is $18,960. For detailed information about the earnings test, refer to the following Social Security website:

Thursday, July 22, 2021 - 13:00

Should My Sister File For Survivor Benefits Even If She's Working?

I have done some reading, and used online calculators.
(Writing for sister, working, divorced, recently widowed with disabled adult son (disabled long before age 22). Former spouse died in 2020. I know she MUST file for a restricted benefit.

The calculators advise to file for mother benefit, child benefit and survivor benefit now and her social security at 70. Then the calculators show zero for the mother benefit? There is also an earnings test and she will lose much of the survivor benefit (looks like 11,000 a year).

Tuesday, July 6, 2021 - 10:27
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