I'm eligible to start claiming social security this May at 62. I do some side stuff - uber, etc and know that I can earn up to $17,640/year and still be eligible for my full check. I've done the full analysis about trade-offs in waiting until full retirement age to start collecting and understand all of that. I was laid off from my corporate job last year and unable to find anything else, so I do these side hustles.
Question is, I also have a year-old S-Corp (counseling services) that right now pretty much breaks even between expenses and income, a few hundred dollars a month. I hope to become profitable by mid-2020 to the tune of about $2k/month profit.
How does that affect my SS benefit? Does it matter if I leave the money in retained earnings in the S-Corp? If I do take some, should it be via 'draws' or salary? I think I have to file a K-1 anyway, so a bit confused.
Thanks for any help. Hopefully I posted this in the right area!
