If you are 66 how much money can you make without paying taxes on social secutity?

Answer 1

If you are a Single filer or Married Filing Separately and you did not live with your spouse, if one half of your Social Security plus all other income that appears on you return exceed 25,000.00 then a portion of your Social security will be tax able.



If you are Married Filing Jiontly, if one half of your Social Securtiy plus all other income that appears on your return exceeds 32,000.00, then a portion of your Social Security will be taxable

If you were Married Filing Separately and lived with your spouse even one day of the Tax year, You will have a taxable portion of your Social Security.

In all scenerio's the maximum amount of your benefits that can be taxed is 85%, complete the worksheet in Pub 915.

Publication 915
http://www.irs.gov/publications/p915/index.html

Answer 2

You can make as much as you like. I'm not certain that 66 is the cut off point. You might want to call your local Social Security Office or the local IRS office. They will give you the answer with no problems.

Answer 3

If you are single, take one-half of your Social Security and subtract it from $25,000. That's your earnings limit without paying tax on your Social Security benefits.

If you're married filing a joint return, subtract one-half of your combined Social Security from $32,000 to arrive at your earnings limit without tax on your Social Security. (Yes, there is a SIGNIFICANT marriage penalty if you receive SS income.)