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Certified Public Accountant


 

Newsletter

Tip of the Month for November 1999

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New Social Security Benefit Ruling
The Social Security Administration has announced that the maximum amount a social security recipient under age 65 can earn without losing social security benefits will increase from $9,600 in 1999 to $10,080 in 2000 ($840 per month), while the annual exempt amount for a recipient age 65 through 69 will increase from $15,500 in 1999 to $17,000 in 2000. (There is no annual earnings ceiling for recipients age 70 or older.) So, recipients under age 65 will lose $1 in benefits for every $2 they earn over $10,080 annually, while recipients in the age 65-69 bracket will lose $1 in benefits for every $3 in earnings above the $17,000 limit.

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