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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.
Will My Gross Or Net Income Count?
I am 63, taking early retirement. Planning on returning to work as a business owner, so, will my income regarding maximum allowable earnings be calculated on the gross or the net income?
Hi,
Assuming that your business income is reported as self-employment as opposed to wages from a family corporation, then your net self-employment earnings would be what counts for Social Security earnings test purposes (https://www.ssa.gov/planners/retire/whileworking.html).
You may want to consider using our maximization software to explore and compare your filing options before locking yourself into a reduced benefit rate by starting benefits early.
Best, Jerry
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Posted:
May 3, 2018