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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 983
Experience:  Certified Public Accountant
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I am really confused about my social security and pension

Customer Question

I am really confused about my social security and pension benefits. I am 68 years old and I work full time and earn about $50K. Will my SS benefits be reduced because I work? Also, I have a small pension from my previous employment of about $1300 a month. is that taxable at my age as well? I appreciate any advice you might be able to give me.
Submitted: 3 months ago.
Category: Tax
Expert:  Mark Taylor replied 3 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 3 months ago.

I believe that you reached the full retirement age at 66. Based on this your SS benefits should not be reduced because you work.

Expert:  Mark Taylor replied 3 months ago.

Your pension is taxable and a portion of your social security income is likely taxable (85%)

Expert:  Mark Taylor replied 3 months ago.

The additional amount was $14,760.

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