DEAR HARRY: This year, I'll be 74. I retired when I turned 66 and I started to collect my Social Security then, but I'm thinking seriously of going back to work. I am apparently getting on my wife's nerves being at home almost all the time.

Will I get hit for additional deductions from my pay for Social Security? How will this affect the amount I receive in monthly benefits?

WHAT HARRY SAYS: As long as you're working, you'll get hit for the Social Security tax on your earnings at 6.2 percent. It will only stop once you get a total of $117,000 of earnings in 2014.

Because you are older than the full retirement age of 66, your benefits won't be reduced. In fact, they may increase if your salary is large enough to be considered in determining your basis for calculating benefits. That's the 35 of your highest earnings years.

If you were younger (under 66), your current benefits would be reduced by $1 for every $2 you earned over $15,480 for this year.

Your income tax withheld will be based largely on your age and family status. Many older Americans request higher-than-required income-tax withholding to avoid having to file an estimate (1040-ES). I'm happy about your decision to work and "wear out, not rust out."

Email Harry Gross at, or write to him at Daily News, 801 Market St., Philadelphia, Pa. 19107. Harry urges all his readers to give blood. Contact the American Red Cross at 800-Red Cross.