Your wife earnings will NOT be counted as a part of your earnings for the social security earnings test.
Yes, you can collect Social Security and unearned income at the same time. There is no limit to the amount of unearned income (from investments, pensions, rental income, etc.) that you can receive while collecting Social Security retirement benefits. You are limited to how much earned income you can have (from wages or salary) if you are collecting Social Security before you reach your full retirement age, but there is no limit to the amount of unearned income you can have.
16500
These days, there are many elderly people who depend on social security as a main source of income. For some people, social security benefits are their only form of income. If this is your case, then you will not be required to pay taxes on your social security benefits. Social security benefits that are the only source of income for an individual do not need to be taxed. However, if your modified adjusted gross income exceeds the limit set forth by the IRS, then your social security benefits will be taxed. For a single person, the income amount is set at $25,000.
Social Security benefits are not "means tested" - i.e., there is no limit to the amount of property or other assets you may own. Millionaires receive Social Security benefits. Are you referring instead to Supplemental Security Income?
Maximum 2009 Social Security tax of 6.20% on the first $106,800 of earned income = $6621
15500
In 2009, the IRS set annual Social Security wage base limit at $106,800 at 6.2%. That would make the maximum FICA withholdings $6,621.60.
There is a limit for income from working you have not reached your full-retirement age . You can make as much money as you want to from sources such as interest, investment income, rental income, etc. See Sources and related linksfor details.
$15,120
The earnings limit for Social Security in 2014 is $15,120/yr. ($1,260/mo.)One dollar in benefits will be withheld for every $2 in earnings above the limit.
is there a limit as to how much money a person on social security can accumulate
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