I'm new to all of this, but I'm going to give it a shot.. I'm 48, widowed at 46 and raising my 2 grandchildren, which I have complete custody off.. I receive survivor benefits for all of us and I'm currently under review for disability due to a accident, that has permanently messed up my neck and my ability to do things.. I'm so used to being active I fell like I'm losing it at times. I'm considering starting a small ice cream truck business but I'm not sure if I'm aloud to do that and get survivor benefits at the same time.. so my question is, can I?

Hi,

I'd it true that when you are getting your full retirement benefits can you also work .
I've been told you can work all you want .
Please clear this up for me.
Thank you for your time.
Laura

Hi Laura,

In reading other questions and IRS documents, I see that in the year I reach FRA I can use the monthly test when I start claiming benefits. Is the amount ($4k) before or after deductions such as taxes, FICA, Medicare, and 403(b) withholding? That is, is it gross or net monthly income?

Thank you

Hi,

65 in Feb 2020. If I file now, my monthly benefit is $2630. I have 4 dependents under 18. Estimating their total monthly benefit of $2000. My max monthly benefit is $4956. I do make $72k a year. Doing all the calculations, not being at max retirement age, and with my yearly earnings... 72k - 18,240 ÷ 2 = roughly 27k. Roughly figuring $4630 a month in benefits, if I file now, would I start to receive the total monthly benefits by Nov? Why is this so complicated? Thank you for your help. Also, do you offer retirement planning on minimizing taxes? Again, thank you.

Larry, i can not get the answer to the question I'm asking from social security. I've tried 3 times and always get the stock answer. They are not reading the question. My question: I am currently 65. i still work, making about 70k a year. I also know at my full retirement age, my working income no longer matters reference my benefit. i realize if i claim now, i would receive nothing because of my income. But i do have 4 dependents under 18. If i file now, knowing I'd receive none of my benefits because of my income, would my dependents be able to start receiving their benefits?

I was wondering if I could work full time and still draw full ssi check

Hi,

If by SSI you are referring to Supplemental Security Income, then the answer's no. SSI is a needs based benefit, and your SSI payment amount would be reduced by $1 for each $2 that your monthly earnings exceed $65.

I will collect social security at 62.5 . my minor children will also receive benefits. I plan to continue working.
my benefit is 1990 per month . the childrens benefits will be total of 1950 per month. I will make $5500 per month.
Question: Will my monthly benefit be reduced to zero and than childrens benefits reduced, or will it be deducted from both of our benefits in an equal amount.

Hi,

I took Widow's benefits from my ex-husband and I am trying to determine what income/expenses impact the cap before I go over the maximum amount which is about 18,000 for 2020. I took a new job which offered health insurance and took the HSA and was wondering if insurance premiums and contributions to the HSA are able to be deducted from my income in figuring out the MAGI.

Hi,

I plan to take survivor's benefits when I turn 60 in July of this year. I'm currently working and want to wait till SS confirms I will receive the benefits before I give notice / quit my job (I'd like to my last day to be in June). My appointment is in April - how long can I expect to wait before I receive confirmation in writing from S.S. that my benefits will begin the month following my birthday and the $ amount? Also, I expect to receive about $7,500 in vacation payout.

Hi Larry. I turn 62 this june and want to start collecting my social security benefit. My income is from rental property. That is my only income. Will that count against what I will receive per month?

Hi,

Probably not. Only earned income (i.e. wages and self-employment earnings) counts for Social Security earnings test purposes. The only way that rental income could be considered as earned income would be if you're a realtor, or if you perform regular services for the convenience of your tenant, such as daily maid service.