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How to file for disability, Filing for SSI
Disability Requirements, Disability Status
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The Social Security List of Impairments
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Does Social Security take into consideration gross earnings or net earnings?



 
I am planning on applying for Social Security in March. I will be 62 in May. I currently receive military pension benefits and my wife receives Federal Civil Service pension benefits. I operate a consulting practice as a sole proprietor. I pay self employment taxes every year on the money I earn from the consulting practice.

My question is this: I know that SS will take $1 for every $2 I make over a particular year's earnings limits. I have been told; however, that they do not take into consideration my gross earnings from the consulting practice, but the net earnings....is that correct?

If that is correct, will a contribution to a self employed pension IRA of sufficient funds to make my net income fall below that particular years earnings limit stop SS from taking money back?

Thank you for any help you can provide.




I cannot answer that question. You really need to ask your accountant how your IRA pension contributions affect your net self-employment. Social Security used to make questionable retirement determinations for individuals who were self-employed like yourself.

If they still made those determinations you would most likely not be able receive a reduced retirement because you are basically working your regular job, not retiring, which does give a self-employed person a benefit that wage earning individuals have to wait until full retirement age for. However, Social Security determined within the last couple of years they will just accept the net self-employment that reports to the IRA.








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For the sake of clarity, SSDRC.com is not the Social Security Administration, nor is it associated or affiliated with SSA. This site is a personal, private website that is published, edited, and maintained by former caseworker and former disability claims examiner, Tim Moore, who was interviewed by the New York Times on the topic of Social Security Disability and SSI benefits in an article entitled "The Disability Mess" and also by the Los Angeles Times on the subject of political attempts to weaken the Social Security Disability system.

The goal of the site is to provide information about how Social Security Disability and SSI work, the idea being that qualified information may help claimants pursue their claims and appeals, potentially avoiding time-consuming mistakes. If you find the information on this site helpful and believe it would be helpful to others, feel free to share links to its homepage or other pages on website resource pages, blogs, or social media. Copying of this material, however, is prohibited.

To learn more about the author, please visit the SSDRC.com homepage and view the "about this site" link near the bottom of the page.