Ask an author: David Loeper here to answer your retirement planning questions! - Page 26

David Loeper · 04-22-2009, 10:27 AM

Quote:

Originally Posted by BobW

I am retired and collecting Social Security. I am working and my wife is assisting with the consulting business. What tips do you have for keeping net income from the business within allowable range of $28,000?

Well, it is a nice problem to have... worrying about making too much. Obviously you should consult with a good CPA to make sure you maximize the legal deductions against your business income.

But, if you really want to avoid having social security taxed I'd say don't work so hard to keep your earnings from triggering taxation of your SSI.

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