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Are My Expenses Deductible For Earnings Test Purposes?
I will receive SS in March. I have been working as a realtor part time doing CMA's. I make about $20K per year but have expenses for mileage, RE fees etc. of about $8K netting $12K. Do the expenses get deducted as far as my earnings limit.
Hi,
The Social Security earnings test counts gross wages and/or net earnings from self employment (https://www.ssa.gov/planners/retire/whileworking2.html). Therefore, assuming that you are self employed then your deductible business expenses could be subtracted when determining the countable amount of your earnings for earnings test purposes.
Best, Jerry
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Posted:
February 26, 2018