New Social Security Benefit Ruling

The Social Security Administration has announced that the maximum amount a social security recipient under age 65 can earn without losing social security benefits will increase from $9,600 in 1999 to $10,080 in 2000 ($840 per month), while the annual exempt amount for a recipient age 65 through 69 will increase from $15,500 in 1999 to $17,000 in 2000. (There is no annual earnings ceiling for recipients age 70 or older.) So, recipients under age 65 will lose $1 in benefits for every $2 they earn over $10,080 annually, while recipients in the age 65-69 bracket will lose $1 in benefits for every $3 in earnings above the $17,000 limit.

These articles provide general information on tax, accounting, and financial topics for small businesses and individuals. They are educational in nature and are not specific legal, accounting, financial, tax, or other professional advice, and should not be relied upon as such. This content was prepared by Service2Client and may have been reviewed or edited by the website owner for accuracy and compliance. Look for a trust mark below for verification details. No representation is made that any approach described will achieve a particular result, and no regulatory or professional body has reviewed or endorsed this content. Because each situation is different, readers should consult a qualified professional about their specific circumstances before acting. Images accompanying these articles are protected by copyright and may not be copied or reused.

Dynamic Content Powered by Service2client.com
SEO Content Powered by DynamicPost.net