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I have recently retired from a civilian job position. I have

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I have recently retired from...
I have recently retired from a civilian job position. I have been drawing social security for several years (present age 78). Will my present amount I draw from social security be increased or reduced based on my income now being about $90,000.00 less per year
Submitted: 1 year ago.Category: Tax
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6/13/2016
Tax Professional: Lev, Tax Advisor replied 1 year ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,164
Experience: Taxes, Immigration, Labor Relations
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Your social security benefits may be re-calculated if you are working and continue to receive earned income subject to social security taxes.

They will not be reduced - but may be increased.

That are generally wages and self-employment income.

Other types of income - like pension, investment income. etc will not affect your social security benefits.

Your social security benefits are based on 35 years for which your earnings (indexed) subject to social security tax was the most.

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Tax Professional: Lev, Tax Advisor replied 1 year ago

They will not be reduced - but may be increased.

That are generally wages and self-employment income.

Other types of income - like pension, investment income. etc will not affect your social security benefits.

Your social security benefits are based on 35 years for which your earnings (indexed) subject to social security tax was the most.

.

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Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all tax related issues.

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