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,

The only type of income that counts for Social Security's earnings test (https://www.ssa.gov/planners/retire/whileworking.html) is earned income, which is any combination of gross wages and net earnings from self-employment. Any other type of income that you receive from your Subchapter S corporation wouldn't count.

Before filing for benefits, though, you should strongly consider using our maximization software to compare your options and determine your best strategy.

Best, Jerry