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If you collect Social Security and you're younger than full retirement age, then you can earn up to $16,920 in income in 2017 and still collect 100% of your Social Security payment. Nov 26, 2016 at 2:22PM. The average American's retirement savings remains anemic, wages are only inching higher, and employers continue to abandon pension plans.
The IRS allows business owners to expense the entire depreciable basis of equipment in the year of the purchase. Businesses must have taxable income before using section 179; they cannot reduce taxable income below zero and are limited to an IRS determined maximum, which is currently $250,000.