- Net Earnings from Self-Employment
- Self-Employment Income
- What are gross business receipts?
- Are retirement payments received from partnerships included in net earnings?
- How is income credited when a partner dies?
- Deduction of Business Expenses
- Dividends on Stock and Interest on Bonds
- Is interest received by dealers counted as earnings?
- Is interest received by traders counted as earnings?
- Is interest received by a dealer/stockbroker counted as earnings?
- How is dividend and interest income calculated for partnerships?
- Are all gains and losses included in calculating earnings?
- What rental allowances must ministers include in net earnings?
- What rental income must be included in calculating earnings?
- Rent Received by Real Estate Dealers
- What items are counted as earnings for real estate brokers?
- Is rental income counted as earnings?
- Services Normally Provided by Landlords
- Services Provided for Convenience of the Occupant
- Are payments for parking lots, warehouses, and storage garages counted as earnings?
- Rental Income from Two or More Property Operations
- Does farm rental income count as net earnings?
- How is material participation established in a farm rental arrangement?
- How is material participation in farm production determined?
- What are the criteria for Test I: Financial Contribution, Periodic Inspection, and Consultation?
- What combination of activities is required to demonstrate material participation in farm rental agreements?
- What constitutes a "significant part" of production costs or equipment?
- Costs of Production
- Periodic Inspection of Production Activities
- Advice and Consultation
- What are the criteria for Test II: Decisions Affecting Success of Enterprise?
- Test III: 100 Hours of Work Over 5-Week Period
- If Tests I - III are not met, is material participation still possible?
- Are other methods of computing net earnings for self-employment available?
- What is gross income for the optional method of reporting?
- Optional Method of Figuring Net Farm Earnings
- May grazing income be included in gross farm income?
- Is income from the sale of farm products grown in prior years included in gross farm income?
- Are federal agricultural program payments included in gross farm income?
- Is the landlord's share of a crop included in gross farm self-employment income?
- Income from the Sale of Timber
- Summary Table for Optional Methods of Computing Farm Self-Employment Income
- Optional Method of Computing Non-Farm Net Earnings
- Summary Table for Optional Methods of Computing Non-Farm Self-Employment Income
- Combining Farm and Non-Farm Net Earnings
- Income of U.S. Citizen or Resident in Business Outside the U.S.
- Are exclusions in Section 911 of the Internal Revenue Code applicable to ministers outside the U.S.?
There are 11 Comments
age requirements
I was born in July of 1942. Is there an amount I should not earn. Can I earn too much and will my benefits be affected?
Taxation of benefits
You may have to pay income taxes on your benefits if your income is over $25,000 (single) or $32,000 (married - joint return).
Income
I received a letter saying that since I am turning 66 in Jan. 09 that I will be able to earn ANY AMOUNT by working and it will not affect my social security check each month or for the year. Is this true? I thought that I had to be older due to old rules?
Income
I am 62 and if I retire this year how much money can I make before my SSI is affected.
SSI and retirement benefits?
So you plan on receiving both SSI and Social Security retirement benefits?
allowed income
my ssa counselor in baltimore indicated I can make up to $14,160 a year without penality. Since I am unable to reach her by phone i will ask you. My state of MD. government retirement will abount to $1,150 a month with $107.00 taken out for tax's. My question is; is the state retirement income i receive counted in the max I can earn (14,160.00). If so $13,812.00 (yearly state retirement amont) this would mean I can earn only $348.00 a year working part time somewhere. Please tell me this is not the case.
thank you
Michael B
Earnings limits - income from wages
Assuming you're discussing retirement benefits, note that only your wages count toward Social Security’s earnings limits.
Your age is also a factor here. If you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits. If you are younger than full retirement age during all of 2009, we must deduct $1 from your benefits for each $2 you earned above $14,160.
See here for details : http://www.ssa.gov/pubs/10069.html
Age 70 Benefits
I am 65 years old and plan to retire at age 70 from my current employment where I pay social security. I have earned enough credits in this job and others to qualify for social security. I retired seven years ago from the Texas Teacher Retirement System. Will my former retirement affect my social security payments?
Windfall Elimination Provision
There is something called the "The Windfall Elimination Provision" which may affect you.
The Windfall Elimination Provision primarily affects you if you earned a pension in any job where you did not pay Social Security taxes and you also worked in other jobs long enough to qualify for a Social Security retirement or disability benefit.
See here for details :
http://www.ssa.gov/pubs/10045.html
benfits
i was injured at my place of employment in 1997 i received ssi until i turned 66 (6/1943) i receive under 570. in benfits now however i feel i schould be receiving more as i hade worked for 30 years. what can i do to see if i schould be receiving a different amount?
thank you
Retirement benefits
Yes, there's a good chance you can receive more from your Social Security retirement benefit.
For example, I used the following calculator :
http://www.ssa.gov/OACT/quickcalc/index.html
I plugged in your birth date of 6/1943, and used a 1997 wages of $30,000. Based on this, your estimated retirement benefit would be $1,457 per month.
If you use the above calculator you can change the wages and other parameters.
There are other calculators here :
http://www.ssa.gov/planners/benefitcalculators.htm
So I would contact Social Security directly to inquire about retirement benefits.