Has anyone has an issue of collecting social security and doing mystery shopping? I'll start getting Social Security in December. I know the limits for earnings is just over $15,000. I won't make that much. Have you had other issues? I just read this on the Social Security site:

"if you work more than 45 hours a month in self-employment, you’re not retired; if you work less than 15 hours a month, you’re retired. If you work between 15 and 45 hours a month, you won’t be considered retired"

What does that mean for those of us doing Mystery Shopping?

@johnb974 wrote:

Has anyone has an issue of collecting social security and doing mystery shopping? I'll start getting Social Security in December. I know the limits for earnings is just over $15,000. I won't make that much. Have you had other issues? I just read this on the Social Security site:

"if you work more than 45 hours a month in self-employment, you’re not retired; if you work less than 15 hours a month, you’re retired. If you work between 15 and 45 hours a month, you won’t be considered retired"

What does that mean for those of us doing Mystery Shopping?

Yes those in the know...or those who have a better understanding please reply. We will be in this boat in January.

Liz

It does not mean anything as far as I can see. Many of us are on Social Security. Once you pass a certain age there is no longer any penalty for earning more than $15,000. And, even if you hit $15,000 or more, it will reduce your Social Security a bit but not make you ineligible.

I have always worked more than 45 hours per month while on Social Security. there is no question on the IRS forms about how many hours one works per month, so there does not seem to be any "catch." Were you, perhaps, reading about SS Disability rules when you found that information? That is the only program for which I can figure any reason for any such designation.

@walesmaven wrote:

It does not mean anything as far as I can see. Many of us are on Social Security. Once you pass a certain age there is no longer any penalty for earning more than $15,000. And, even if you hit $15,000 or more, it will reduce your Social Security a bit but not make you ineligible.

I have always worked more than 45 hours per month while on Social Security. there is no question on the IRS forms about how many hours one works per month, so there does not seem to be any "catch." Were you, perhaps, reading about SS Disability rules when you found that information? That is the only program for which I can figure any reason for any such designation.

I'm now 62. I'll start collecting Social Security retirement benefits in December. How does this affect your Social Security. The page was for Social Security retirement benefits.

Edited 1 time(s). Last edit at 11/02/2015 05:10PM by johnb974.

I feel sure he is reading or hearing something about something other than just regular, age related Social Security. Here is from Social Security itself regarding regular Social Security.
[faq.ssa.gov]

How do they equate hours? We don't work hours. I think they mean regular employment. As always, all earnings are reported to the IRS. I know my dad worked and collected SS but I'm not sure about all the rules. When he reached a certain age, he did not have to have meet a certain income criteria, I think it was 67 years old.

This is where I read it:

[www.socialsecurity.gov]

Maybe it's for self employed and you take work from a company that pays you by the hour. I don't see how anyone would know how many hours you work while mystery shopping.

The section to which you refer is "Special rule for the first year you retire". It is talking about how they figure what you are entitled to if you have earned more than the annual limit during the part of the year you were NOT retired. So lets say you earned $3k per month for the first 9 months of the year. That would be $27k. NOW you turn on your SS and if you continue earning $3k per month you will see no benefit at all because $1310 per month is the top limit FOR THE FIRST YEAR YOU ARE RETIRED. Indeed if you are self employed and working 45 hrs or more per month you would get no benefit. But come January 2016 you would go to the annual upper limit before your SS was reduced at all. For 2015 that annual limit is $15,720 and should go up for 2016, though I'm not sure to what amount.

And the caps apply until you reach your full retirement age, with lesser percentages of reduction of your SS benefit each year as you approach full retirement age.

Edited to add: The 45 hrs per month is just ONE way they use to determine if you are retired during your first year on SS. I suspect strongly that presenting a clear spreadsheet of net earnings during October, November and your schedule for December would show that you are unlikely to earn $1310 during December and therefore eligible for the full benefit for December.

Edited 1 time(s). Last edit at 11/02/2015 05:40PM by Flash.

Aha! As usual, Flash is correct and has jogged my memory into alignment with what she says.

Fortunately I am at the age where I am not penalized if I earn. My gross from mystery shopping lately has been in the $1500 a month range....but that's GROSS, and due to my incredibly perfect bookkeeping, less than $1500 for the calendar year will be taxable income.

When I turned 65 I collected Social Security and still worked full time earning about $35-40K a year. The only thing that happened to me was that I paid back about 1/4 of my SS in taxes when I did my yearly tax return. The only thing that occurred every year was that after I reported my work earnings, SS would do a review of my earnings and then decide if I should get more in my SS check based on my increased earnings.