Ask Larry

Will Social Security Reduce My Check Because I'm An Adult Foster Care Provider?

I am 65.5months and considering collecting my SS early. Can I do that and still be a Adult Foster Care provider? I know that AFC is not considered income but will SS take away from my check because of it?

Hi. My expertise is limited to Social Security benefits, so I'm not familiar with Adult Foster Care (AFC) regulations. All I can tell you is that if the payments you receive for being a foster care provider aren't classified by the IRS as wages or self-employment income, then they won't affect your Social Security benefits even if you decide to start collecting benefits prior to your full retirement age (FRA).

You don't mention why you're considering starting your benefits early, but doing so may not be a wise move. Before deciding when to apply for your Social Security benefits you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry

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Posted: 
Aug 13 2022 - 4:07pm
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