Earnings Test

Would My Children Be Able To Receive Benefits If I File Early?

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I will be 63 in 2020 and have two dependent minor children both 14 years old. I will be earning $64,000 FICA wages in 2020 (approx 46400 over the earnings limit). My estimated monthly Soc Sec Monthly Benefits at 63 will be $2000 a month for a yearly SSA benefit for myself of $24,000. However, our family max benefit is estimated at $48,000 a year.

Will My Earnings Prior To My Retirement Date Affect Either My Wife's Benefits Or My Spousal Benefits?

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This year my wife turns 62 in July and will file for her early benefit at that time. I will retire in September of this year at age 67 and over my FRA. At that time I plan on filing a restricted application for spousal benefit and allow mine to grow till age 70 when I file for my own benefit. My question is will my earnings I receive prior to my retirement date limit in any way the amount of my spousal benefit or my wife's benefit?

Hi,

If I Earned A Million Dollars, Would Social Security Withhold Half Of That Amount From My Benefits?

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Hi Larry,
I am thinking of retiring when I am 63 and collecting Social Security benefits so that I can write full-time. I understand that, if I do, and I make money on my writing, Social Security will withhold $1 for every $2 I would make over $17,040. My question: A scenario -- The wonderful dream comes true and, for my novel, I get a million dollar advance. Does this mean that Social Security would withhold $491,480?
Thank you.

Hi,

Will The Deferred Income Distribution My Husband Receives In 2019 Count For Social Security Purposes?

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My husband fully retired in April 2018. He will turn 66 in April 2019. He will be receiving a bulk sum distribution of his 457b account in Feb 2019. The monies in the account were deferred income from his years working for a nonprofit hospital. Will that distribution be considered 2019 income for Social Security purposes? (does the fact that is reported on a W2 form have any bearing on the matter?).

Is It True That I Have To Pay Back $1 For Every $2 That I Earn Above $17000 Per Year?

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Hi,
I am going to be 60 years old on Dec 2018, my husband passed away from cancer last year, he would have 65 in August 2018. I applied for widows benefits in new jersey. I was told that I can not make above $17 000 a year, if I do I have to pay back $1 for every $2 I have, is this true?.
2nd question I have is if i I make over 17 000 a year, and I told social security office yo stop my payments in october, do I still have to pay back on my earnings for the rest of the year.

How Would My Husband Returning To Work Affect My Son's DAC Benefits?

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We have a disabled (since birth) son who was receiving SSI until my husband took his Soc Sec early. My son is now receives 50% of my husband's full retirement benefit as a DAC. He's been offered an unexpected employment opportunity which would amount to more than twice his current Soc Sec benefit plus my son's benefit. If he takes that position, I understand he will be repaying all of his benefit as he is still two years away from his full retirement age.