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reyrod130
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I am on social security @ age 66. How much can i earn without my social security being taxed?

 
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I am on social security @ age 66. How much can i earn without my social security being taxed?

People very often confuse two things.
You can take Social Benefits as early as age 62, before your "normal retirement" age. If you do that, then there is a limit to how much earned income you can have in a year and not have to pay back benefits. Once you reach your "normal" retirement age, you can have as much earned income as you can get and not have to pay back benefits. The process for that is detailed in the SSA publication at this link:
http://www.socialsecurity.gov/pubs/10069.html

Many people misunderstand that and think that their benefit is not taxable. Nothing is further from the truth.
For decades now, social security benefits have become taxable when your other income exceeds a certain amount. When 1/2 of your Social Security Benefit plus all of your other income (including tax-exempt interest) is more than $25,000, Single, or $32,000, Married Filing Jointly, then up to 85% of your benefit becomes taxable. There is even a worksheet on the back of your SSA-1099 that shows you how to calculate that.  The taxability of your SS benefit depends only on how much other income you have, not on your age.
The taxation is explained in the SSA article at this link:
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/493/~/paying-income-tax-on-social-security-benef....


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I am on social security @ age 66. How much can i earn without my social security being taxed?

People very often confuse two things.
You can take Social Benefits as early as age 62, before your "normal retirement" age. If you do that, then there is a limit to how much earned income you can have in a year and not have to pay back benefits. Once you reach your "normal" retirement age, you can have as much earned income as you can get and not have to pay back benefits. The process for that is detailed in the SSA publication at this link:
http://www.socialsecurity.gov/pubs/10069.html

Many people misunderstand that and think that their benefit is not taxable. Nothing is further from the truth.
For decades now, social security benefits have become taxable when your other income exceeds a certain amount. When 1/2 of your Social Security Benefit plus all of your other income (including tax-exempt interest) is more than $25,000, Single, or $32,000, Married Filing Jointly, then up to 85% of your benefit becomes taxable. There is even a worksheet on the back of your SSA-1099 that shows you how to calculate that.  The taxability of your SS benefit depends only on how much other income you have, not on your age.
The taxation is explained in the SSA article at this link:
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/493/~/paying-income-tax-on-social-security-benef....


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