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emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 3004
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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I believe that if I file security after my 66th birthday I

Customer Question

I believe that if I file for social security after my 66th birthday I can continue working fulltime with unlimited earnings and my social security benefit will not be at risk or penalized. Assuming this is true, will my benefit increase at normal age level attainments for the incremental social taxes being paid by me and my employer?
If my wife is drawing social security while I am drawing social security, if I die can she be paid my social security benefit in place or hers? In addition to hers? if so, what steps are required by me or het to insure this occurs?
Submitted: 1 year ago.
Category: Social Security
Expert:  emc011075 replied 1 year ago.

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

If you apply for social security at your full retirement age (usually 65 or 66 depending on your birth date) you can continue working full time without affecting your social security benefits. However, if your total combined income is over 32K (counting only 50% of social security benefits), up 85% of your social security income could be taxable. Regarding the increase in benefits, your benefits are calculated using your 10 years with with highest earnings. So, unless you expect to make much more than in your best 10 years, your benefits will most likely not change a lot.

When you apply for your own benefits, your spouse can also apply for her based on your records. She doesn't have to wait until you die. After you die she may be eligible for other benefits. I would suggest to make an appointment at your social security office to sit down with somebody who can access all your work records and give you exact numbers so you can choose which option would give her the most benefits, spousal or her own.

Expert:  emc011075 replied 1 year ago.

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

And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.