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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3430
Experience:  37 plus years of SSD practice
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Started taking social security age 66, still working,

Customer Question

started taking social security age 66, still working, understood was no cap on earnings and ss income not taxable?
Submitted: 4 months ago.
Category: Social Security
Expert:  Lane replied 4 months ago.

No, as I said in the other answer ... you are confusing the reduction in benefits for working while taking social security under age 66

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WITH

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Taxation OF social security by IRS.

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Two different issues.

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How MUCH of your social security is taxable ALWAYS depends on your COMBINED (some call it PROVISIONAL) income ... 1/2 of your social security PLUS your other income (REGARDLESS of your age)

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The OTHER ISSUE is social security actually REDUCING YOUR MONTHLY benefit becasue you earn too much (15,720 in 2016) ... and this only applies if you are under full retirement age of 66

Expert:  Lane replied 4 months ago.

Make sense?

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(1) TAXATION of Social Security (applies at all ages regardless of type of benefit)

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vs

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(2) Social Security lowering the benefit itself (only applies prior to age 66 and only to retirement benefits)