In fact, with the exemption in effect, shoppers from the suburbs and perhaps those from nearby parts of Connecticut, which has a 6.35 percent sales tax, might be enticed by a simple calculation: Shop for clothes (under $110) in New York City, and pay no sales tax. And city residents might be enticed to stay.
For example, if you're 64 years old, taking home $1,100 a month in Social Security benefits ($13,200 annually), and you earn $24,000 in wages in 2016, you can expect the SSA to reduce your 2016 annual benefit by $4,140 ($24,000 minus $15,720, then divided by $2). Your net benefit would be $9,060.
Retirement Planner: How We Deduct Earnings From Benefits. In 2017, the annual earnings limit is $16,920 if youâre under full retirement age. If you will reach full retirement age in 2017, the limit on your earnings for the months before full retirement age is $44,880. Starting with the month you reach full retirement age, there is no limit on how much you can earn and still receive your benefits. Are under full retirement age all year. You are entitled to $800 a month in benefits. ($9,600 for the year) You work and earn $26,920 ($10,000 over the $16,920 limit) during the year.