Social Security Questions? Ask a Social Security Expert for Answers ASAP
Thank you for your question. Please permit me to assist you with your concerns.
For any two dollars that this person goes above the federally mandated limit, he would lose one dollar in benefits.
For 2013 the limit is $15,120, so for any money above that threshold, the other party would have to return any over-payment back to the SSA.
you that effect the benefits of dependents?
No, it would only affect personal benefits
if a spouse, for example, is receiving benefits against the benefit herself, her benefit would not be lowered
no, the benefits are for my daughter. I have the opportunity to earn about 45,000. would it make financial sense to earn that amount of money and pay the back social security?
In that situation you wouldn't have a benefit at all
all the money you would receive would be taken back by the state
In that case it would make far more sense to hold off on benefits, allow the benefits to accrue and grow more, and elect to take them later.
Once you choose to take on SSA benefits, they stop growing. Here, anything you'd get you'd likely lose out on--it would make no financial sense to formally 'retire'
Does that make sense?
ok thank you for your help.
You are most welcome--glad to do it. Is there anything else I can help answer for you?
no my question was on ss benefits.