Ask an AI Accountant
A free tool by
If you're receiving Social Security benefits and you're under your full retirement age (which is 66 and 4 months for people born in 1960 and later), there's a limit to how much you can earn from work before your benefits are reduced. For 2023, that limit is $19,560.
If you go over that limit, $1 in benefits will be deducted for every $2 you earn above the limit. However, the money isn't lost forever. Once you reach full retirement age, your monthly benefit will be increased to account for the benefits withheld due to earlier earnings.
Keep in mind, this only applies to earned income from work. Other income — like investments, pensions, or rental income — doesn't count towards the limit. Also, starting with the month you reach full retirement age, you can earn as much as you want without your benefits being reduced.
Keeper’s AI Accountant V2
Track and claim every eligible deduction with Keeper
Keeper is the top-rated all-in-one business expense tracker, tax filing service, and personal accountant.
0
Keeper users have found write-offs worth
$
0
0
Keeper users have found write-offs worth
$
0