I have an employee over 70 years of age, can she stop withholding her FICA taxes? (Social Security) Thank you
yes you do my father pays taxes he is 70
SURE YOU DO. You can be over 100 years of age and could still meet the requirements of having to file an income tax return. Age does not have anything to do with the requirement to have to file an income tax return.
There is no age requirement, if you have sufficient income you have to file taxes. CHECK THE IRS AND YOUR STATES GUIDLINES , BUT GENERALLY IF YOU EARN ABOVE A CERTAIN INCOME , AND CERTAIN TYPES OF INCOMES-----NONE OF WHICH IS AGE RELATED UNLESS YOU ARE RETIRED AND OVER A CERTAIN AGE - I THINK ITS 70 YRS BUT CHECK THE BOOKS TO MAKE SURE
About 70% of every utility bill is taxes; both visible and hidden. Most of it goes to the Federal government.
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.
I have an employee over 70 years of age, can she stop withholding her FICA taxes? (Social Security) Thank you
yes you do my father pays taxes he is 70
SURE YOU DO. You can be over 100 years of age and could still meet the requirements of having to file an income tax return. Age does not have anything to do with the requirement to have to file an income tax return.
There is no age requirement, if you have sufficient income you have to file taxes. CHECK THE IRS AND YOUR STATES GUIDLINES , BUT GENERALLY IF YOU EARN ABOVE A CERTAIN INCOME , AND CERTAIN TYPES OF INCOMES-----NONE OF WHICH IS AGE RELATED UNLESS YOU ARE RETIRED AND OVER A CERTAIN AGE - I THINK ITS 70 YRS BUT CHECK THE BOOKS TO MAKE SURE
There are some limitations for customers that are over the age of 70 for buying travel insurance. Many companies increase the premiums for customers over the age of 70.
Over 70 years
70+ percent
approximately 70%
over 70 years
over 70% in a year
YES, YES, YES. There is no age limit that will stop anyone from filing and paying income taxes. I have seen several people who were told this or assumed this in error. If you have taxable income over the filing threshold then you are required to file a tax return no matter what your age is. I hope this has helped you even though it may not be the answer you had hoped for.