Question
Edie has a successful business from which she earns a six figure salary. Edie, age 60, has no plans to retire for the next 10
Edie has a successful business from which she earns a six figure salary. Edie, age 60, has no plans to retire for the next 10 years but she wants to start collecting Social Security benefits as early as possible. Which of the following statements is true? Group of answer choices
Edie cannot collect Social Security until she stops working.
Edie must start collecting Social Security at age 62.
Edie must start collecting Social Security at full retirement age.
If Edie waits to start collecting Social Security until full retirement age, earnings from her job will not reduce her Social Security benefits while she is working.
Paula and Patrick, a married couple, receved $30,000 in Social SEcurity benefits during the year. Their adjusted gross income was $60,000 on their income tax return. They also had tax-exempt interest of $2,000 they earned during the year. Which of the following is true?
Group of answer choices
Up to 50% of their Social Security benefits may be taxable.
None of their Social Security benefits may be taxed.
Up to 100% of their Social Security benefits may be taxable.
Up to 85% of their Social Security benefits may be taxable.
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