Home page

Social Security Earnings Limit - 5 Questions You Should Know How To Answer

Frames Social Security Earnings Limit - 5 Questions You Should Know How To Answer

Description Social Security Earnings Limit - 5 Questions You Should Know How To Answer

Comments Social Security Earnings Limit - 5 Questions You Should Know How To Answer

I will start taking SS in Oct i have 4 months til end of year Is the self employment 1st year income limit net pay or is it agi divided by 12 for whole year Comment from : Lowell mckee

Thank u 🙂 Comment from : Brenda Yack

Great content Devin, can you confirm that my military retirement and VA Disability Payments would NOT count toward the income limit? I’m pretty sure they don’t, but really would like some confirmation that I haven’t been able to find Thanks Comment from : James Byrnes

this yr you can earn 21240is this annual or can you make all 21240 in a few months and nothing the other monthsdo they ding you the months you earn 1770? Comment from : Dave Davis

What about collecting per diem? Does that count? Comment from : MarsX

My sister is getting ready to retire and has alreadty made 75K and wants to apply for SS mid year, what would her monthly earnings limit be in 2023? Comment from : Myra Moxley

Cap it at 62,500 any thing above that loose 4 percent up to 40 percent of the amount collected Comment from : David Allison

Can you have income from an S corporation as an employee as long as it stays under the required amount? Comment from : Sharon Rowley

Great video! Comment from : Laurel Parrish

Can I combined my earned income with my self-employment loss and net is under the income limit, will I still see a reduction? Comment from : Joseph Hessling

😊 Comment from : Thruthedoor7

I have searched and searched for someone that can answer my questions as I am about to turn 62 and wasn't sure if I should file early even though my husband will wait until his full retirement age My biggest concerns were answered by you in this video Thank you so much for being so entirely informative and not just giving partial answers like so many others out there do Comment from : Mel Kent

They don't limit the earnings of retired federal workers why do they limit the common worker that supports this corrupt system Comment from : No 6 at utube jail

no, it should not, because those who pay more can contribute to others who are less fortunate, besides they make so much money that they would save a lot more Comment from : I Salem

Is inheritance counted as income? Thank you Comment from : Cherie C

What if the Annuity payments are from IRA Comment from : amy h

Superb video The most complete collection of answers that I've found An income type that I'd like to see added to the Earnings Limit is Rental Income from a property I'm 64 and when I retire, I'll rent out my house and hit the road in an RV Comment from : Hoping2Help

Excellent! Pension payments don't count! That's what I was writing to ask when you put it first thing on your list When I retire at 62, my private pension payment will be greater than my SS payment and that's what I was wondering about Now my next question would be if I could get by pretty good on just my company pension, do you think that it's better to apply at 62 and invest the SS money for 8 years; bird in hand; or wait 8 years until 70 for the greater payment Odds are I may live till mid 90's; God willing Comment from : Freedom WillRing

Does pass-through income from an S corporation count against the earnings limit? Comment from : Richard Angott

Do 401K distributions count as income? I see you listed IRA distributions not being counted as income Comment from : Rnoitheryet

When does social security claw back their $1 for every $2 over the limit? In January, or after April when taxes are done? Comment from : Bonnie Fay

My wife owns a business that I am listed on as a 10 partner I haven't ever received any income from the business nor do I expect too I filed my paperwork for ss today Do I need to account for that 10 in my application? Comment from : auton omous

This was a great instructional video and answered 5 big questions that I’ve had about Social Security Comment from : Ronald Moody

I started collecting at 62 I've kept working for the past 10 years I plan on retiring at 75 Can I have my benefits recalculated when I retire? Comment from : john wieczorek

Yes Comment from : Helen Curtin

Where is that downloaded? Comment from : M GALLAGER

It would help everyone if the Earnings limit was discarded Especially when you consider the amount of taxes you Still have to pay when you retire It would keep many people in their homes and off of additional Government support like medicaid, by keeping more of their money available to them for those expenditures Comment from : YVONNE LEWIS

I did not start collecting Social Security at my full retirement age and waited till I was 70 years old to start collecting Social Security I am still continuing to work Are there limits to how much I can earn and what do I pay taxes on the income from working or the income from working and the income from Social security? I've been confused about this for some time Thanks for your help and answering my question Comment from : Cecil Freeman

If I have a small business and I am drawing SS early, could I put my business in my wifes name to avoid going over the monthly limit? Comment from : Paul Knoblock

What about inheritance? I’m thinking that’s not “earned” income so it wouldn’t count Correct? Comment from : pamp212

I am 68 and working full time My plan is to work full time until 70 Recently I am considering changing jobs which could possibly earn less than what I make currently With this possibility would my monthly SS benefit lower based on whatever my new annual income would be? I love to work how much can I make without it being a disadvantage? I enjoy your videos Very informative Thank you Comment from : Peg Silverwood

I’m wondering if rental income counts toward the SS earnings limit Comment from : Pam Cornelius

I wish you had included income from rental property But I bet it counts for SS Comment from : JoAnne Butzerin

You didn't mention disability payments Comment from : Clint Hough

Yes, the wage limit should be eliminated Why should one be forced to a lower standard of living because of having social security Working while receiving Social security will give them the means to be creative, happier and capable of helping others Comment from : ROBERT WOLF

Third video I watched, this one was the best explanation! Comment from : Randene31

One question is are these limits based on on gross income or net income because they are taxing your gross income already? Comment from : Neal F Williams

OMG I didn't know about these Earnings limits Earnings limits make the system complicated so get rid of them SS is taxable income already so Just leave it at that Comment from : Chuck

Eliminate the earnings limit and stop taxing SS Comment from : Jarreds Dad

What a joke So the lucky person who worked for the government (politician or inside job) getting a 100k to 200k a year pension does not get penalized but the self-employed person or low income worker with no pension and no health benefits and makes 30 or 40 or 50k a year working long hours gets punished At the same time he/she has to pay a fortune ( up to 20k a year) for a low-quality health plan while the pensioner has a gold plated plan Ridiculous system created by our criminal politicians How about that fairness and "paying their fair share," our dishonest politicians are talking about All income limits should be dropped now!! Comment from : enjoy life

Great show, how about VA disability payments, does it count towards earnings limit? Comment from : MAC MAC

If a person on social security rents a room in their house to a family member do they have to file income tax on the amount they receive? Like if their ss yearly amount is 23,412 and the rent they receive is 4440 per year, from the rent received, would they be filing for 27,852 per year? Comment from : JJ Wen

Hi Devin,brYou did an excellent job of explaining ss! Comment from : Michelle Gardner

So, IRAs are not taxable income I'm assuming you mean all It as, and not just Roth IRAs Is that right or wrong What about 401k distributions? Taxed or not taxed? ThanksbrI don't see the download of the form you mentioned in the description Can you please explain in a bit more detail where it is Thanks again Comment from : Jonna Borosky

Devin, I find your videos the most thorough and easy to understand I do have a couple of questions that no one seems to have the answer 1) I'm currently 69 years old and have not applied for SS My 70th birthday is Feb 2023 How long after my 70th birthday do I have to apply? 2) If I can apply after 70 how many months can I wait and will I receive addition money by waiting Comment from : Charles Belknap

Hello Devin appreciate all you video's on SS I recently received my first SS payment last month and am currently and retired from the Corporate world and working part time I will exceed the 2022 earnings limit set at $19,560 What does SS consider reportable earnings Is it your wages that are reflected on your W2 that would be net of any 401K contributions and any group Medical costs that are deducted pre tax Thanks Comment from : Thomas ORourke

Retire at 62, move to a low cost of living country, sell all your possessions and do the Lord's work there, whatever it may bebr Make up for all the s*b**/b things you've done in your life 😆 Comment from : Kickicker

Question: Is there an earning limit for surviving spouse if he/she chooses to take their deceased spouse's SS? Comment from : Gladys Creitz

Watch out for the IRMA tax It is sneaky They will not remove it until you appeal it You will pay it the rest of your life because they will charge you until you appeal it It will be deducted from your SS check with no explanation to bring it to your attention Comment from : Curtis Randolph

Good information Comment from : Mark F

Devin the $19,560 earned in early retirement is in addition to benefits correct? Comment from : Greg Benefield

Hey Devon I love your videos I have a question for you I’m 63 years old retired I have not put in for my Social Security yet I want to but I have rental properties is that money considered earnings I Comment from : Terrie DelMontier

Yes Eliminate earnings limit Military gets pension out the gate without affecting SS Comment from : Kenneth Boehnen

You answered my questions completely I appreciate the video Comment from : Jd McCreary

I was told that SS calculated excess income using joint income!! I work part time for our business but that income is below the current 2022 limit I am at full retirement age but don't need to collect SS benefits right now My husband intends to keep running his business (tree service) for as long as possible (he is below full retirement age) I'm divorced but remarried at age 53 I may have held off marrying if I'd known I could collect on my ex husband's SS as it is the max Both my husband and myself have less than average SS benefits I have a very small pension It really is a shell gameI considered all of the benefits I'd give up and the return if invested and it appears that even if I don't need to collect benefits now it makes more sense to have the $$ in my bank account because it would take me almost to 80 to make up the difference? Given that I didn't realize I could take SS benefits now without getting dinged for excess income I'm reconsidering my decision to start collecting Am I thinking about this all wrong? I've made some devastating financial moves in the past by not having all of the information in front of me (even though I paid an 'expert' for guidance) Thanks so much for breaking this down for usit's hard for me to keep up on it all Comment from : Mama Loves the Beach!

All those years paying social security tax by it being taken before workers even saw it: now they also Tax the Tax distributions? Sounds good to meNOT! Comment from : imdabluez

How about income from bitcoin mining? I count it as income for tax purposes Comment from : Jazeapokergod A

does selling stock count as earnings income or capital gains? Comment from : Adventures Florida to Thailand

Hello Devin brI’m going to be 64 this year (2022)brHowever I’m being told by a few people that I should claim SS as soon as I reach 66 and 6 months brContinue working like I am and paying taxes of course, that my monthly check will increase just like if I would of waited to retired at 68 or 69 brCan you confirm that for me brI so happy that we have someone like you educating us Comment from : Maggie

Devin I am still confused I will retire in June with a income at that point of $17,50000 can I collect my monthly gross income working which is $ 2,60000 and collect my social security does my work gross monthly income count as monthly or annually I get confused easily because my gross monthly work income is over the monthly limit by s thousand please help I am subscribed to your channel Comment from : Tom Okeefe

TYSMUCH DAVID Carroll, can i apply 4 social security retirement now i jst turn 62 last November 2021, no spouse only by my self , n im still working how much i can earn Comment from : Lolita Milne

If you are not going to answer my question, be kind enough to reply so I can unsubscribe and dislike your video Comment from : Cheri

I subscribed and liked your channel and you couldn’t take the time to answer my question Not impressed if you want people to support you and subscribe but you are too busy to answer a question Comment from : Cheri

Hi Devin, My wife wants to start a home business one year before my full retirement Could my social security payment be affected? Comment from : Tim-Tron

I wish you would do this and widows benefits at 60- working widows Comment from : Annie Jane

I don’t think ss should be taxed until you hv received the amount you hve paid in Comment from : Carla Atkinson

Please Help My question is different I was on disability from a botched surgery Born in sept of 1955 When I turned 65 I received a letter that my disability was now going to be social security No choice since I didn’t work I have an adult disabled son Denied disability There is a program we may be eligible for as me as his caretaker At this age of 66 and a half, am I limited to the 19,560 since I had to retire at 65? I desperately need this extra money to take care of my son My husband is still working and will be 60 in May Please please advise me as I read on line that born in 1955, I could make up to $51,960 At what age am I able to make up to the higher amount Love your channel Thank you and God bless Comment from : Cheri

Appreciate the clarification on the monthly vs annual test during FRA Comment from : Terry Cunningham

I think the earning limits needs to be eliminated and I also think spousal income should not count against you Comment from : Michelle White

You should make a list of suggested videos where you suggest the beginner starts on your channel I do need to go over all of these some day Comment from : Nobody

Thank you Devon very helpful Comment from : davhutton

The earnings limit should be abolished if you worked over 30 years and still healthy enough to still work why?NOTIf we go back to work a full time job social security still take money out on your earnings Comment from : David Lowery

I think you were spot on for me, thx for the vid Devin Comment from : William McCaslin

Good morning Devin what about medicare if your earnings are above the limit? Comment from : Sidney Kabbash

Thank you, keep up the good work Comment from : Flaco Danny

Question My question isn't about wages it's about receiving money from a property sold Do I have to turn in the amount received or do I wait until income Tax time And how much can be received, I'm at full age retirement Thank You for your videos Comment from : Araceli Adams

how much money i can keep in the bank if i take early retirement at 62 ? Comment from : Pamela Lam

Is it true that you can only have 2k in your bank? How is this fair, when you can have thousands in a pension or 401? Comment from : Jim Stokes

Isn't there a special rule, for your first year of retirement, to cover being over the limit Say if your birthday is in November Comment from : Jim Stokes

Of course money (purchasing power) was far greater when the plan commenced Comment from : Jim Stokes

Love your show lot of good advice thank you very much maybe you should run for president because Joe Biden has got us in a big mess just my opinion anything's better than Joe Biden Comment from : Ken Snedegar

I don't know if this pertains to one of the questions But can I apply for regular social security at age 67 and keep my SSI and if no why? Comment from : Greg Messick

My friends in India Filed for social security online He has an appointment on the phone on April 8th He made a huge mistake Can he resend his social security application It repeatedly told him not to make any mistakes He doesn't know what to dobrHe is afraid if he goes along with it he's going to get in trouble because it was a big mistake Comment from : Dave Forgot

I had to retire due to my health I've been about to starve to death I'm 65 my full retirement age is 66 and 4 months I'm also single I can't work anyway They just love to bury us early Comment from : Catherine Kersey

I’m new to this subject, but I’m getting educated and building knowledge! Thank you! Comment from : Chris Morrow

I heard that if we file for taxes even if we don’t have to file taxes because I don’t make enough but we file for 140000 that we are supposed to get for filing hope you can understand this Comment from : JoAnne Applebee

WHAT ABOUT IF I'M DISABILITY AND THIS YEAR I TURN 66 YEARS OLD WILL IT COUNT ALSO BY JANUARY 2023? Comment from : Albert Hernandez

Devin, you just posted the most timely video in regards to my situation now that I have started to receive retirment benefits at 64 Thanks, so much I do have an important question that is likely relevant to others who are (or will be) retiring early and planning to work up to the annual limit brDo the gross earnings per calendar year include ALL WAGES RECEIVED- or just your wages EARNED in the calendar year? You see, my first paycheck received for this year, 2022, was solely for wages earned through 12/31/2021 (the end of last year) Not a penny of 2022 wages on it Furthermore, my second paycheck included some overtime earned in 2021 Thus, I need to know if those can be considered backpay and subtracted from the GROSS wages on my paystub this year? Also, I will have at least one week's PTO coming to me on a final paycheck, once I quit Are those included (or excluded) from the earnings limit, if I have resigned and performed no more work for wages prior to that? I would really appreciate some clarity there, as I am trying to calculate the date when I must quit my job to avoid overpayment It could make the difference between quitting three to four weeks later than planned Comment from : DoubleEszpresszo

I’ve never seen you address severance payments when discussing “what counts as income” Comment from : Steve B

Earning limit should be eliminated Comment from : Jd McCreary

First time commenter Have enjoyed and learned a lot from all your videos The earnings limit should be eliminated I have soany friends who have lost jobs late in life due to Pandemic Becauseover 60, they have hard time replacing income earning before let go All they want is to be able to supplement wages with early Soc Sec, and try to build some money for when they can no longer work Most are living below poverty level on what they earn or having to draw down retirement savings just to live Comment from : Richard Flaaen

😎👍✌👌🖖🤓 Comment from : john mirbach

The Earnings Limit needs to be eliminated Comment from : Stephen Ford

Devin appreciate the content One question I plan on retiring on Dec 23, when should I sigh up for SS to get Jan thanks Comment from : Mark Casto

Related Social Security Earnings Limit - 5 Questions You Should Know How To Answer videos

8 Social Work Interview Questions You Should Be Prepared to Answer РѕС‚ : Manicka Thomas Download Full Episodes | The Most Watched videos of all time

Social Security Earnings Limit: How Much Can You Earn Before The Government Reduces Your Benefits РѕС‚ : Oak Harvest Financial Group Download Full Episodes | The Most Watched videos of all time

Social Security Earnings Limit [UPDATED] РѕС‚ : The Medicare Family Download Full Episodes | The Most Watched videos of all time

Social Security Earnings Limit Explained РѕС‚ : The Medicare Family Download Full Episodes | The Most Watched videos of all time

History of the Social Security Earnings Limit РѕС‚ : Devin Carroll Download Full Episodes | The Most Watched videos of all time

What Income Counts Towards Social Security Earnings Limit? РѕС‚ : Devin Carroll Download Full Episodes | The Most Watched videos of all time

Social Security Earnings Limit РѕС‚ : Financial Fast Lane Download Full Episodes | The Most Watched videos of all time

Ad limit kaise hataye | Ad limit se kaise bache | How to remove ad limit from adsense РѕС‚ : Rg technical boy Download Full Episodes | The Most Watched videos of all time

EXTRA $200/MONTH SOCIAL SECURITY INCREASE! SSI SSDI VA Payments | Social Security Update РѕС‚ : Wise Flys Download Full Episodes | The Most Watched videos of all time

Social Security Update: $2400 INCREASE TO ALL NOW | Social Security COLA INCREASE 2024 РѕС‚ : MOSTLY MONEY TV Download Full Episodes | The Most Watched videos of all time