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I have a new and particular question about the SSI

For Lane only. I have...
For Lane only. I have a new and particular question about the SSI application regarding income for self-employment. I am attaching a screen shot of the area in question and can wait until it's convenient for you to answer. Question involves whether or not I need to provide specific information for these months or can average it out over the 12 months, since the total income is certainly less than what they are asking for.
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Answered in 8 minutes by:
10/16/2017
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12,867
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

There are a couple of issues. At your age (67 if I remember correctly) what this is all about is not relevant. That 3490 per month is the amount that one can earn IN THE YEAR THEY TURN FULL RETIREMENT, age (66), before they will reduce benefits (FOR THOSE TAKING BENEFITS BEFORE AGE 66)

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Until they GET the application, they don't know your age so that's there for those people that are applying early and still working.

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Retirement benefits are NEVER reduced for working once your over full retirement age.

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So, in your case, this is all irrelevant. And, becasue of that, you can simply average BUT you don't NEED to.

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Customer reply replied 1 month ago
But last year I was 66 until July and it's asking about 2016. Could that have anything to do with it?

But you received no benefits in 2016 right? You aren't taking benefits early at all. Correct?

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See this (about 4/5 of the way down the page here): https://www.ssa.gov/planners/retire/whileworking.html

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When you reach full retirement age:

  • Beginning with the month you reach full retirement age, your earnings no longer reduce your benefits, no matter how much you earn.
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Customer reply replied 1 month ago
Got it! I don't think we need to talk on the phone and I really appreciate your help -- as usual. You're my go-to guy. Are you a Certified Financial Planner as well? If so we'll move to another topic soon! Thanks again.

I am. That one's been there since 1998. Glad I could help

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As always, I'd appreciate a positive rating by using those stars.

...

If you’d like to work with me again here at JustAnswer, just say "For Lane," at the beginning of your question (OR you can go to your questions page for reviewing questions and choose an option to make me a preferred expert)

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Thanks again,

Lane

Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12,867
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified
Lane and 87 other Social Security Specialists are ready to help you
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Lane
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12,867
12,867 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986

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