How much is your social security reduced if you make orver the minimum amount of $12,800?

State if i make $15,000 how much will this reduce my social security?

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Answer:
Both of the above answers are mostly correct. But the age limit isn't necessarily 65 - it depends on whether you have reached your full retirement age, and many people are now collecting ss who are under that age. If you were born in 1938 or later, it's higher than 65.

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Answer:
For 2008 the threshold has been increased to $13,560.

If you’ve not reached full retirement age, and you earn $15,000, your benefits are going to be reduced $1 for each $2 over the threshold.

In your example, the reduction is $720.

There will be no reduction if this is your first year of retirement.

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Answer:
There’s more to it than your question advocates. If you’re 65 or older you lose NOTHING by working - it is only if you collect SS early that you might lose some by working. And technically, you are not losing it - you’re delaying it - you’re helping yourself later on when you’re 65 by getting more per month because you pushed off the earlier SS benefits until later.

Here is a good article by the Quicken people that explains that better, including the tax implication of working and collecting even after you turn 65:

http://www.quicken.com/cms/viewers/artic…

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Answer:
The current rule is that social security takes one dollar for each two you make over the minimum. In the case you cite, it would be about $1,100 over a year.

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