On Sep 23, 11:59*am, Steve M <stephen.mo...[at]REMOVETOREPLYipa.netwrote:
- quote -

Your SS income will be considerably higher if you can delay until full
retirement age.

You might also want to delay IRA withdrawals since they are taxed as
ordinary income.

At full retirement age you can make as much as you want (not $36,120)
without having to pay a penalty.

--
Ron

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"Steve M" <stephen.moore[at]REMOVETOREPLYipa.net> wrote
- quote -



That means you physically do something for pay. Generally it's wages or
self-employment income.

Receiving rents, interest, dividends, etc do not apply.




- quote -



Nope.




- quote -


Plan to draw your IRA based on may other factors. It doesn't, currently,
impact SSA benefits.





--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

- quote -

SSI is the abbreviation for Supplemental Security Income. SSI is public
assistance payments to disabled persons who don't have the requisite
quarters to qualify for social security payments on account of old age or
disability.

You're asking about normal "old age" social security. Among the types of
income you list above, only wages count as earned income for offset
purposes. For more information, see "What is earned income?" in the SSA
Handbook.

http://www.ssa.gov/OP_Home/handbook/...book-2605.html

The earned income offset currently is $36,120 up until the date during the
year a social security beneficiary attains full retirement age (FRA).
Starting with the month you reach FRA, you can get your benefits with no
limit on your earnings. See "You can work and get Social Security at the
same time."

http://www.socialsecurity.gov/retire2/whileworking.htm


Condor

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I'm about 2 years away from opting to receive SSI at 62 1/2. I just
recieved the annual benefit report and the enclosed letter "Thinking
of Retiring? Consider your options" in which it states my benefits
will be reduced 1.00 for each 2.00 I "earn" (above 13,560 in 2008).
My question is what does "earnings" mean? Does this include interest
and dividends reported on 1099-INT and 1099-DIV, wages reported on a
W-2, IRA withdrawals, or all or part of the above. I'm wondering if I
should not plan on withdrawing from my IRA until I reach full
retirement age when the annual limit would be 36,120.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >