Social Securiy
I’m 73 and coleect SSA benefits but still work Full time.
Do I still have to have SS taken out of paycheck as long as I’m still working?
Thanks so much
Terry Says
As long as you are still working, under current law you will pay into Social Security via the FICA deduction from your paycheck. AND, depending on your income, you may have to pay taxes on a portion of your Social Security benefits.
Calculate your combined income by adding half of your Social Security benefits to your other income.
Compare your combined income to specific thresholds based on your filing status. For single filers, the threshold is $25,000, and for married filing jointly, it’s $32,000.
Based on your combined income, different percentages of your benefits may be taxable:
If your combined income is below the thresholds mentioned above, your benefits are not taxable.
If your combined income falls between the first and second thresholds (e.g., $25,000-$34,000 for single filers), up to 50% of your benefits may be taxable.
If your combined income exceeds the higher thresholds (e.g., above $34,000 for single filers), up to 85% of your benefits may be taxable.
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