If I start receiving ss at 62 in March , when does ss start counting the $19, 960 extra income from working , in January or March ?

Hi. First off, to clarify, the annual earnings test exempt amount for people who are under full retirement age (FRA) in 2022 is $19,560. Social Security hasn't yet stated what the exempt amount will be in 2023.

In response to your question, your earnings starting January 1st would count toward the annual earnings test limit for Social Security retirement benefits. The annual earnings test counts a person's earnings for the entire calendar year, regardless of which month they claim their benefits. If you earn more than the exempt amount, you would lose $1 of your benefits for each $2 that your calendar year earnings exceed the exempt amount.

However, there is an alternate monthly test that can be applied in the first year that a person claims benefits, but only if it is more advantageous for them than the annual test. Based on the monthly test, a person can be paid benefits for any months that their work and earnings don't exceed the monthly limits no matter how much they earn in the first calendar year that they claim benefits (https://www.ssa.gov/benefits/retirement/planner/rule.html).

Before deciding when to claim your benefits, you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your various options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry