Social Security Questions? Ask a Social Security Expert for Answers ASAP
The 2013 amount is $15120
For every $2 over this limit, you will see your Social Security benefit reduced by $1. For example, if you are 63 and your wages are expected to be $24,000, this puts you $8,880 over the earnings limit and will reduce your benefit by $4,440.
If your Social Security benefit happens to be $2,220 per month, Social Security will withhold payments for the first two months to cover the $4,440 excess amount and then resume your normal payment in the third month.
You should notify social security as soon as possible that you will have increased income, so they will start reducing your benefits,
you would not be able to stop social security,
Social security will reduce your benefit now, so you will have no issue of owing them any money,
I am confused on your statement You would not be able to stop Social Security. Could you explain that please? I still don't quite understand what I need to tell SS. If i know how much more I will make for the rest of the year do I tell them and they will then reduce my SS. amount that I get each month. Thank you