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?
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.
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?
I am 61 and currently receiving a pension from the County. My ex (married for 15 years) died. I was thinking of taking the survivor benefit now and taking my SS at 70 (I definitely made more money than him). Will SS count my pension as income?
Hi Larry. Have been unemployed all year until September 16th. Working pt and will be breaking the doc sec threshold by 200-300 per month. Will social security withhold any checks for the remainder of this year and how will it work next year? Thank you, Ed
Can a person collect widows benefit at 60+ and work full time without being penalized?
Hi Larry, I am a retired 63 year old dad receiving a Social Security Survivor’s benefit as a surviving parent caring for my disabled adult son. This year I began receiving payments through a Washington State Medicaid Waiver program as compensation for caring for a disabled person in my home. These are known as “difficulty of care” payments, and are exempt from federal income tax under IRS Notice 2014-7. The IRS also treats these payments as unearned income. In addition, they are exempt from FICA/FUTA taxes because I am a parent providing care to my adult child.
I will be 66 on 5/25/20. What would my earnings limitation be if i apply for ss benefit in January 2020 ?
I was told $44,000 from jan to june which means I can collect ss and continue to work with out losing ss money.