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lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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I turned 66 in September 2015 and am collecting social security

Customer Question

I turned 66 in September 2015 and am collecting social security benefits at $2,640 per month. I am currently working part time in 2016 and paying into social security, Medicare, Federal and State taxes. My question is what is the maximum amount of income I can make? If there is an income threshold amount not to exceed and I exceed that amount, how would that impact my monthly social security income?
Thank you,
Submitted: 5 months ago.
Category: Social Security
Expert:  lev-tax replied 5 months ago.
As you already reached your FRA - full retirement age - there is NO limit on earning.Your social security benefits will NOT be affected regardless how much you will earn.
Expert:  lev-tax replied 5 months ago.
However - if you have additional income besides social security benefits - a part of your social security benefits will be taxable.Your earning will be subject to social security and Medicare taxes regardless if you start social security benefits and regardless of your age.Does that answer your question?
Customer: replied 5 months ago.
Expert:  lev-tax replied 5 months ago.
.I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.

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