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Hi,
Whether or not you are over 65 you have to file a tax return if your income exceeds the total of your standard deduction and your personal exemption. Assuming you are single and over 65 for 2007 your standard deduction is $6,650 and your personal exemption is $3,400 or a total of $10,500. If your income other than social security exceeds that amount, you are required to file a tax return.
Up to 85% of social security benefits can be taxable depending upon the amount of your other income. If you are single and the total of half of your social security plus all your other income exceeds $25,000, some of your social security is taxable.
Let me know if you have any questions.
Regards,
Carole http://en.allexperts.com/q/Tax-Law-Questions-932/Social-Security-Filing-Taxes.htm
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∙ 15y ago
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Is social security considered retirement?
Your question is confusing. Are you asking about receiving monthly Social Security checks? Or are you asking about Social Security Disability payments. They are two different types of Social Security Benefits.
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The Social Security Administration recommends filing for benefits three months before your intended retirement date.
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If you turn 65 and begin getting social security retirement benefits does that decrease your spouses social security retirement check that he has already been getting?
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do i have to use form 1040a if i am receiving social security?
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Are retirement checks subject to FICA?
Social Security retirement checks are subject to FICA taxes (Social Security and Medicare taxes) unless an individual has already reached the maximum taxable earnings limit for the year. Once the maximum limit is reached, no further FICA taxes are deducted from the retirement checks.
Where can I find more information online about social security retirement?
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