If you were born January 2, 1943, through January 1, 1955, then your full retirement age for social security benefits is 66. If you’re younger than 66, your benefits will be reduced by $1 for each $2 you earn above $15,480. If you reach your full retirement age during 2014, your benefits will be reduced by $1 for each $3 you earn above $41,400 until the month you reach that age. Once you’ve reached full retirement age and claim, your benefits won’t be reduced no matter how much you earn from your business.