How much can I earn if I'm already collecting social security?

Question

How much can I earn if I'm already collecting social security?

Answer 1

If you are over full retirement age, which is somewhere between 65 and 67 depending on when you were born, you can make any amount without having it affect you ss benefits.  Otherwise if you earn over $13,560 your ss will be reduced.

Answer 2

Regardless of age, a taxpayer receiving Social Security benefits may be taxed on up to 85% of those benefits.  How much of those benefits are taxed depends on your other income.  If:

other income plus 1/2 of Social Security benefits

is more than $25,000, some of your benefits are taxed if you are single (the number increases to $32,000 if you are married filing a joint return).

Also, a recipient who has not reached full retirement age will have his benefits reduced $1 for every $2 earned (meaning wages or net self-employment income) over $13,560.  

In the year of retirement, the above restriction is adjusted to the month of retirement.

Answer 3

If you are 65, you can earn as much as you want.  It is just that your social security becomes partially taxable if you do.  The formula is

  income + 1/2 of Soc Sec

If the total is over $25K (single person), the social security starts to be taxable.  The figure is $32K for a married couple.

The whole amount is never taxable.  It starts at only being about 10% taxed until you earn enough that they tax 85% of it, but never more than 85% of it.