I understand that once you earn over $12,480 your Social Security benefits get reduced $1 for every $2 earned. What is included in "earned income"?
-
-
Earned income includes employee compensation, net earnings from self employment ,strike benefits, disibility pay reported on W-2, and scholarships reported on W-2. A net loss from self employment reduces earned incomeOriginally posted by UnregisteredEverybody should pay his income tax with a smile. I tried it, but they wanted cash -
So no passive income (i.e. dividends, interest, social security, capital gains, pension, etc.)?Comment
-
Social Security
After an individual reaches full retirement age you are entitled to full benefits with no linits on how much you can earn.Comment
-
That's correctOriginally posted by UnregisteredEverybody should pay his income tax with a smile. I tried it, but they wanted cashComment
-
Thanks all!Comment
-
That's also correctOriginally posted by UnregisteredEverybody should pay his income tax with a smile. I tried it, but they wanted cashComment
Comment