Earnings Test

Can You Explain How Social Security Would Calculate An Overpayment For A Given Year?

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Hi,

During 2014 at age 64, I began to receive social security benefits (approx. $2,100 per month). In 2014, I also was working part-time and earned income unevenly during the year. Some months I had no income, and several others I exceeded the earned income limit. Work was based on an as needed basis, and it was not known what hours may be needed in advance to support an engineering consulting firm.

Will My Gross Or Net Income Count?

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I am 63, taking early retirement. Planning on returning to work as a business owner, so, will my income regarding maximum allowable earnings be calculated on the gross or the net income?

Hi,

Assuming that your business income is reported as self-employment as opposed to wages from a family corporation, then your net self-employment earnings would be what counts for Social Security earnings test purposes (https://www.ssa.gov/planners/retire/whileworking.html).

How Would My Earnings Affect My Benefits This Year?

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I am turning 62 and May and retiring in July. (earlier than expected but my job is intolerable) I plan to sign up with some temporary services. Work can be on and off. I understand there is a limit of $1420 a month. Supposed I earn 1000 in July and 200 in August and 1500 in September and 800 in October and 1700 in November and want to enjoy Christmas--So that would be 5200. As I will be collecting for half of 2018 I will be earning less than half of $17040. Would this be averaged to $866 a month? What would happen in august and October where I make over $1420 a month.

Can I Continue To Work Full-Time And Receive My Survivor Benefits At Age 60?

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Can I continue to work full time and receive my survivors benefits at age 60
Or is there a penalty

Hi,

Your survivor benefits would be subject to Social Security's earnings test (https://www.ssa.gov/planners/retire/whileworking.html) until you reach full retirement age (FRA). So, if you filed for survivor benefits at age 60, Social Security would need to withhold $1 of your benefits for each $2 that you earn in excess of $17,040 this year.

Is There A Limit On What I Can Make Through Distributions From My Subchapter S Corporation?

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I will be turning 62 this year in November and am considering taking Social Security benefits. However, I still plan to work. I have my own business (a subchapter S corporation). I pay myself a minimal salary and take distributions for the rest of the income. My question: Is there a limit to what I can make through distributions from my Subchapter S Corporation? Just wonder if it is the same limit as it is for regular income.

Hi,

How Do I Convince Social Security To Use My Correct 2017 Earnings?

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SS held back $3600 of my ss retirement checks. They said in 2017 i WAS going to earn more then the $16000 i WAS aloud to earn. I only earned $11081. On my w2 box 1 wages and tips $11081.27. However on box 12b D there is $12039.65. Adding these two numbers together I get 23120.92. That number $23120.92 is in box 3 on the w2 social security wages. However part of the $12039.65 was for money earned in a prior year. Sick pay $4965 and vacation earned but not used. $2346.79.