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TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 15342
Experience:  15+ years in tax preparation and instruction
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If I retire at age 62, how much income can I make being a

Customer Question

if I retire at age 62, how much income can I make being a business owner
Submitted: 12 months ago.
Category: Social Security
Expert:  TaxRobin replied 12 months ago.


For 2016 that limit is $15,720 before SSA would reduce your benefits. If you are under full retirement age for the entire year, SSA deducts $1 from your benefit payments for every $2 you earn above the annual limit.

For self employment that is NET EARNINGS.

Net earnings for Social Security are your gross earnings from your trade or business, minus all of your allowable business deductions and depreciation.

Please do not forget or ignore to give a positive rating (look for the STARS or SMILEY FACES). It adds nothing to your costs but it assists me.

Expert:  TaxRobin replied 12 months ago.

Checking to see how you responded after you read the requested answer.