Have a Tax Question? Ask a Tax Expert
Thank you for your question.
when you start getting your Social Security payments, $1 in benefits will be deducted for each $2 you earn above the annual limit. For 2009 that limit is $14,160; and for 2008, that limit is $13,560. Remember, the earliest age that you can receive Social Security retirement benefits remains 62 even though the FRA is rising.
NOTE FRA means Full Retirement Age.