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July 27, 2022
Question

While collecting SSA, what is the amount that I can earn with a part time job to not pay taxes?

  • July 27, 2022
  • 2 replies
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    2 replies

    Employee
    July 27, 2022

    Your social security benefits may be affected by your working depending on your situation. This article explains that. 

    https://www.ssa.gov/benefits/retirement/planner/whileworking.html#:~:text=If%20you%20are%20under%20full,earn%20above%20a%20different%20limit.

     

    However tax you owe on your income from your work depends on how much you earn and whether you are an employee or are self employed. 

    VolvoGirl
    Employee
    July 27, 2022

    It also depends on your age.  Are you at full SS retirement age?  

    There are 2 different things to know about social security. People get them mixed up all the time.

     

    1. Your actual SS checks

    If you are over full retirement age your actual ss checks won't be reduced. Otherwise they will actually reduce your payments if you make too much other income in the prior year. See SS FAQ for working after retirement

    https://www.ssa.gov/benefits/retirement/planner/whileworking.html


    Turbo Tax doesn't get involved with how much benefits you can get or how much income you can earn. That isn't part of your tax return. That is just with SS sending you the benefit checks. Your SS benefits can still be taxable. First year special rule
    https://faq.ssa.gov/en-US/Topic/article/KA-01927?msclkid=11bc282ccf2211ecb65078152b05ae6b

     

    2. Income Tax

    For any age up to 85% of Social Security becomes taxable when ALL your other income plus 1/2 your social security reaches:

    Married Filing Jointly: $32,000

    Single or head of household: $25,000

    Married Filing Separately: 0