Social Security Payment Checks | SocialSecurityHop.com

12. Net Earnings From Self-Employment

Comments

age requirements

September 30, 2008 by Guest

I was born in July of 1942. Is there an amount I should not earn. Can I earn too much and will my benefits be affected?

Taxation of benefits

September 30, 2008 by David Luhman

You may have to pay income taxes on your benefits if your income is over $25,000 (single) or $32,000 (married - joint return).

Income

October 6, 2008 by Guest

I received a letter saying that since I am turning 66 in Jan. 09 that I will be able to earn ANY AMOUNT by working and it will not affect my social security check each month or for the year. Is this true? I thought that I had to be older due to old rules?

Income

February 4, 2009 by Guest

I am 62 and if I retire this year how much money can I make before my SSI is affected.

SSI and retirement benefits?

February 5, 2009 by David Luhman

So you plan on receiving both SSI and Social Security retirement benefits?

allowed income

February 18, 2009 by Guest

my ssa counselor in baltimore indicated I can make up to $14,160 a year without penality. Since I am unable to reach her by phone i will ask you. My state of MD. government retirement will abount to $1,150 a month with $107.00 taken out for tax's. My question is; is the state retirement income i receive counted in the max I can earn (14,160.00). If so $13,812.00 (yearly state retirement amont) this would mean I can earn only $348.00 a year working part time somewhere. Please tell me this is not the case.

thank you

Michael B

Earnings limits - income from wages

February 18, 2009 by David Luhman

Assuming you're discussing retirement benefits, note that only your wages count toward Social Security’s earnings limits.

Your age is also a factor here. If you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits. If you are younger than full retirement age during all of 2009, we must deduct $1 from your benefits for each $2 you earned above $14,160.

See here for details : http://www.ssa.gov/pubs/10069.html

Age 70 Benefits

April 27, 2009 by Guest

I am 65 years old and plan to retire at age 70 from my current employment where I pay social security. I have earned enough credits in this job and others to qualify for social security. I retired seven years ago from the Texas Teacher Retirement System. Will my former retirement affect my social security payments?

Windfall Elimination Provision

April 27, 2009 by David Luhman

There is something called the "The Windfall Elimination Provision" which may affect you.

The Windfall Elimination Provision primarily affects you if you earned a pension in any job where you did not pay Social Security taxes and you also worked in other jobs long enough to qualify for a Social Security retirement or disability benefit.

See here for details :
http://www.ssa.gov/pubs/10045.html

benfits

August 31, 2011 by Guest

i was injured at my place of employment in 1997 i received ssi until i turned 66 (6/1943) i receive under 570. in benfits now however i feel i schould be receiving more as i hade worked for 30 years. what can i do to see if i schould be receiving a different amount?

thank you

Retirement benefits

August 31, 2011 by David Luhman

Yes, there's a good chance you can receive more from your Social Security retirement benefit.

For example, I used the following calculator :

http://www.ssa.gov/OACT/quickcalc/index.html

I plugged in your birth date of 6/1943, and used a 1997 wages of $30,000. Based on this, your estimated retirement benefit would be $1,457 per month.

If you use the above calculator you can change the wages and other parameters.

There are other calculators here :

http://www.ssa.gov/planners/benefitcalculators.htm

So I would contact Social Security directly to inquire about retirement benefits.

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