Ask a Social Security Question, Get an Answer ASAP!
Hello and welcome. My name isXXXXX am a Licensed practicing attorney and my goal is to provide you with excellent service today.
As long as you have earned work credits for over 10 years you would be entitled to social security,
if you paid payroll taxes during the last 10 years, those earnings
would make you entitled,
Your real issue will be the non passive income,
if you plan to take social security early,
there is an earnings penalty,
the annual exempt amount in 2014 is $15,480
Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes.
Only earned income, your wages or net income from self-employment, is covered by Social Security.
You may have to pay income tax on pensions, annuities, interest or dividends, but you do not pay Social Security taxes. Those types of income are not on your Social Security record.
that may be better,
it depends on what non passive income you are getting,
non passive income is typically wages from a job,
if it is pension payments or interest income, you can apply without the penalty
yes, if it is from your business it will not make you entitled,
until age 66 or your full retirement age,
when the penalty goes away
yes, as long as the income is not going to you,
spousal income does not reduce your own benefits, it would reduce hers if she applies.
good luck, and if you have any further questions please do not hesitate to ask.
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