Over 65 under 71, on SS and need to take on extra job to pay off debt.
Is there a tax on SS if I make over 100% of that SS check in a new job?
if SS is aprox 24k do I have to take a job under 24k to avoid a 50% tax?
If I took a job at 40k would that or the SS become taxed by 50%?
Fri Jul 29, 2016 7:26 pm
oldguy Senior Member
Cash: $ 717.80
Joined: 21 May 2006
If you work and get SS checks between ages 62 and 66, there is a limit to how much your can earn - it changes year-to-year, I think it's about $15,000 now. If you earn over the $15,000, SS will take back 50% of the part over $15,000.
After age 66, you are free to earn as much as you wish, and draw SS.