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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Is The Earnings Limit Before Or After Deductions?
In reading other questions and IRS documents, I see that in the year I reach FRA I can use the monthly test when I start claiming benefits. Is the amount ($4k) before or after deductions such as taxes, FICA, Medicare, and 403(b) withholding? That is, is it gross or net monthly income?
Thank you
Hi,
Countable earnings for earnings test purposes includes any combination of gross wages (i.e. before deductions) and/or net earnings from self-employment. For more information on the earnings test, refer to the following Social Security website: https://www.ssa.gov/planners/retire/whileworking.html.
Best, Jerry
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Posted:
May 3, 2020