Social Security Recipients get a 1.3% increase in their benefits in 2021. The earnings test limits head up. Individuals who turn 66 next year will not lose any benefits if they earn $50,520 or less before they reach that age. Individuals who are 62 through 65 by the end of 2021 can make up to $18,960 before they lose any benefits. There is no earnings cap once a beneficiary turns 66. The amount needed to qualify for coverage increases to $1,470 a quarter.

Social Security

by | Nov 24, 2020 | Tallahassee Tax Service | 0 comments