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Christopher B, Esq.
Christopher B, Esq., Attorney
Category: Social Security
Satisfied Customers: 2983
Experience:  associate attorney
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I have an ownership position in an S-Corporation, and am working

Customer Question

I have an ownership position in an S-Corporation, and am working part-time and thinking of retiring. My wife would continue to work for the same S-Corp. One question is whether I can stop receiving my salary, but continue to work some hours at the business, while I collect my social security benefits.
I am 67 (turning 68 in September)
Submitted: 1 year ago.
Category: Social Security
Customer: replied 1 year ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 1 year ago.
Disregard the request fro a phone call, instead of writing response, for now. Thanks
Expert:  Christopher B, Esq. replied 1 year ago.
My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship. You are not subject to an earned income disability after you reach full retirement age (age 66). You can earn as much income as you please without penalty. You do not have to stop receiving your salary and can work as much as you want. Please let me know if you have any further questions and please positively rate my answer if satisfied. There should be smiley faces or numbers from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated for my time by the site.
Customer: replied 1 year ago.
I understand. But I have a slightly different question. Can I work some hours for the S-Corp, and not collect a salary.
I am asking because there do appear to be limitations on income or hours worked if an individual has not reached the full retirement age of 66. I as noted I am 67. Thanks
Expert:  Christopher B, Esq. replied 1 year ago.
You can collect income through the S corporation as an owner in the corporation and get flow through income without having to receive a salary. So yes, you can receive salary or income through the flow through portion of the S corp.
Expert:  Christopher B, Esq. replied 1 year ago.
Just checking back in, do you have any further questions?