I'm Anne. I've been preparing taxes for 28 years and I'll be happy to help you.
Yes, if you draw benefits before "Full Retirement Age" you will need to worry about making too much money. Please see below:
Please Note, if you are Self Employed, SA will only count your NET income.
Also, if you were born AFTER 1937. Full Retirement Age is no longer age 65. It is now 66 plus . Please see below:
SSA calculates your benefits based on your earnings for the highest 35 years averaged and divided by the number of months in 35 years to arrive at Average Indexed Monthly Earnings (AIME). Although the goal is to always make as much as we can, it's also nice to know that even if our earnings are not what they used to be, it doesn't really penalize us. Please see below:
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