How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask dylatess Your Own Question
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
Type Your Social Security Question Here...
dylatess is online now
A new question is answered every 9 seconds

I was working full time and decided to retire in May 2015. I

Customer Question

I was working full time and decided to retire in May 2015. I found out fromm Ss that since my B d was after May 3rd I would have to wait until 7/9/2015 to get 1st SS check. I decided ro work full time through the end of June 2015. I told my company I was retiring June 30 2015.They offered for me to stay and work part time (about 24 hrs wk).
I worked part time through end of year. SS told me I could make 15,720.00 wit out penalty. Since my 1st Ss check was received 7/9/15, what period of time is measured before I have to pay SS 50% of income?
Thank you
Submitted: 2 months ago.
Category: Social Security
Expert:  emc011075 replied 2 months ago.

Hi. My name is ***** ***** I will be happy to help you.

There are two separate issues here. If you took early social security benefits (before your full retirement age), your benefits were reduced if you made more than 15,720 annually. The period runs from January 1 through December 31.

If and how much of your benefits are taxable depends on your total income and your filing status.

What was your total income in 2015, how much of it was socials security benefits and what is your filing status?

Expert:  emc011075 replied 2 months ago.

Here's how benefits are taxed when you have earned income:

Social security will reduce your benefits if you earn more than allowed during the year. The IRS will tax your benefits if your total income is more than certain limits.

Expert:  emc011075 replied 2 months ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

Related Social Security Questions