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I will be eligible to collect on October 6th, 2017, my 66th…

Customer Question
I will be eligible...

I will be eligible to collect on October 6th, 2017, my 66th birthday. Can I continue to work? How much income can I have and still collect full benifits

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. Please tell me more, so we can help you best.

I'm a toolmaker, my yearly earnings are about 45k. I also am retired from the Air Force reserve. with a monthly benefit about $1300. My wife is still teaching, about 3 more years. I would like to work until she retires

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

I have no idea what else?

Submitted: 10 months ago.Category: Social Security
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Answered in 34 minutes by:
10/2/2017
Social Security Expert: lev-tax, Tax Advisor replied 10 months ago
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,255
Experience: Taxes, Immigration, Labor Relations
Verified

Your FRA - full retirement age is 66.

Starting with the month you reach full retirement age, the SSA will not reduce your benefits no matter how much you earn.

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Social Security Expert: lev-tax, Tax Advisor replied 10 months ago

On the other hand - 85% of your social security benefits will be added to your other taxable income.

Thus you will owe income taxed on your wages and partly on social security benefits.

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