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I was told that I couldn't make over $1400 in social

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I was told that...

I was told that I couldn't make over $1400 in social security type wages in a month. What happens if I make more?

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I retired effective August 31, 2017 and applied for Social Security benefits. I was told by a lady in a SS office that I couldn't make over $1400 per month after retirement. I just want to know what happens if I do - is there a reduction in benefits for that month or ????

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the Retirement Accountant should know?

I don't think so.

Submitted: 10 months ago.Category: Social Security
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Answered in 10 minutes by:
10/1/2017
Social Security Expert: taxmanrog, Certified Public Accountant (CPA) replied 10 months ago
taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 1,222
Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Welcome to Just Answer! Thank you for giving me the opportunity to assist you! I will do my best to help!

Please give me a minute to type my answer.

Ask Your Own Social Security Question
Social Security Expert: taxmanrog, Certified Public Accountant (CPA) replied 10 months ago

You can only earn $16,920 in 2017, or $1,410 per month until you reach your full retirement age. After that, you can earn whatever you want.

If you make more than $1,410 per month in 2017, in 2018 the Social Security Administration will reduce your benefits by $1 for every $2 over this limit that you earn. They will reduce your benefits and collect it over a short period of time - usually a few months.

I hope this answers your question. If you have any more, please let me know and I will be happy to answer.

Thanks! Have a great weekend!

Roger

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Category: Social Security
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