I was wondering if there are legal avenues to use to avoid having social security benefits stopped when selling or after selling a property. Another words can a retired married couple sell a business property without penalty or ceasing of benefits, etc?
2007-09-14 09:25:23 · 3 answers · asked by bucky 1 in Business & Finance ➔ Taxes ➔ United States
it won't affect social security benefits at all. Having a job could potentially affect how much in social security benefits you get, but not selling your business property.
2007-09-14 09:42:58 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The sale of an asset (i.e. the business) will NOT affect your Social Security payments. Ignore the above post; he's clueless.
Additionally if you are at full retirement age, having a job won't affect your SS either. If you took early retirement, THAT could affect your benefits until you reach full retirement age.
2007-09-14 09:37:57 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Is the business property in an LLC or other Corp?
If it were, then it would only be the business changing assets into cash. Then the LLC can pay you.
Moral of the sotry, put the property into an LLC and then sell it...
2007-09-14 09:30:49 · answer #3 · answered by saberhilt 4 · 0⤊ 2⤋