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dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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I was told by Social Security personel that I could ear up

Customer Question

I was told by Social Security personel that I could ear up to $40k this year (turn 66 in 11/16) without having to pay taxes on my Social Security earnings. Is this correct? Does this number, $40k mean my earnings plus SS or just my regular earnings?
Submitted: 4 months ago.
Category: Social Security
Expert:  lev-tax replied 4 months ago.

Hi Elisabeth and welcome to our site!

You can work while you receive Social Security retirement.

If you are younger than full retirement age and make more than the yearly earnings limit, your earnings may reduce your benefit amount. (If you were born between 1/2/1943 and 1/1/1955, your full retirement age is 66 years.)

In the year you reach full retirement age, the SSA will deduct $1 in benefits for every $3 you earn above a different limit. In 2016, the limit on your earnings is $41,880 but they only count earnings before the month you reach your full retirement age.


So - that is correct information - and ONLY your earnings are counted - wages or self-employment income for the $41,880 threshold.


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