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Income tax, sales tax, social security tax, medicare tax, property tax, excise tax -- it all depends on the person's sources of income and choices of outgo.
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∙ 15y ago
A 70-year-old individual may still be required to pay various taxes depending on their income, assets, and activities. They may have to pay income tax on any taxable income they earn, including retirement income, pensions, or rental income. Additionally, they may be subject to property tax if they own real estate, and they may have to pay sales tax on purchases they make. It is essential for older individuals to consult with a tax professional or contact their local tax authority for specific guidance.
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Does a 70-year-old pay taxes on income earned?
Yes, a 70-year-old may still need to pay taxes on income earned, depending on the amount and sources of income. Social Security benefits, pensions, retirement account distributions, and other forms of income may be subject to taxation at the federal or state level. It is advisable for individuals to consult with a tax professional for personalized advice.
What do you call a 70 year old?
A 70-year-old individual is commonly referred to as a septuagenarian.
What is a 70 year old called?
A person who reaches the age of 70 is called a "septuagenarian."
If a person is 100 he is called a centurion what do you call a 70 year old?
septuagenarian
Does one pay fica taxes over 70 years of age?
No, individuals over the age of 70 are generally exempt from paying Social Security or Medicare taxes (FICA taxes) on any earned income. There is no age limit for paying income taxes on investment income, though.
Does a 70-year-old pay taxes on income earned?
Yes, a 70-year-old may still need to pay taxes on income earned, depending on the amount and sources of income. Social Security benefits, pensions, retirement account distributions, and other forms of income may be subject to taxation at the federal or state level. It is advisable for individuals to consult with a tax professional for personalized advice.
Do you pay taxes after age seventy if you continue to work?
yes you do my father pays taxes he is 70
Does everyone pay FICA taxes?
I have an employee over 70 years of age, can she stop withholding her FICA taxes? (Social Security) Thank you
What Pulse should be for 70 year old man?
70
Who are people that are old?
Nobody technically,but some people say they are old like a 9 year old would say a 70 year old is old but a 90 year old would say the 70 year old is young.So my answer is Nobody.
What do you call a 70 year old?
A 70-year-old individual is commonly referred to as a septuagenarian.
Is it healthy for a 70 year old to go on a plane?
Yes it is fine if a 70 year old person could go on a plane!
If you are 70 years old what year were you born?
If you are exactly 70 years old in 2009, then you were born in 2009 - 70 = 1939.
Ideal cholesterol for 70 year female?
Ideal cholesterol for 70 year old female
Is 117 over 70 average for 57 year old woman?
Is 117 over 70 average for 57 year old female
What do you call a 70 year old person?
A "septuagenarian" is a person who is 70 through 79 years old.
Who pays more taxes Republicans or Democrats?
Democrats This guys is obdviously a democrat if he thinks that. NO. Republicans pay about 70 percent of taxes, and democrats pay 30. (because a lot of democrats feed off of welfare and pay no taxes). my answer: it is impossible to tell without access to I.R.S. tax forms. do NOT forget that Congress is full of millionaires who pay VERY few taxes be they Republican or Democrat. now IF the question were rephrashed,Republicans clamor for less taxes
