I will be starting to receive social security benefits and know that one would have to pay the government anything over $1420 a month. I get paid hourly and want to calculate how many hours I am going to work in order not to exceed this. I get paid bi-weekly and my pay period ends on a Wednesday. The easiest way is to multiply $1420 times the months I will be working. Do they calculate this at the end of the year? If not, because of getting paid bi weekly and in the midde of the week, it would be difficult or impossible for me to calculate this. Thanks!
Read it and then if you have further questions, you can post them here and I will try to give you an answer.
i am assuming that you are younger than your Full Retirement Age -
As far as the math goes to keep you under this monthly amount - just divide $1420 by you hourly rate and this will give you the number of hours which you can work in a month and not go over the $1420 per month.
Example: if you make $25.00 per hour you would divide $1420 by the $ 25 per hour to equal 56.8 hours - at this regular rate of $25.00 per hour, it would take 56.8 hours in a month to reach $1420 in pay.
The above should work with regular hours and regular per hour pay, but if you get a bonus per hour amount for some hours in overtime, you would have to recompute.