If you are 67 and still working do you have to pay taxes on Social Security?

Answer 1

YES. From 50% to 85% of your SSB amount that you are receiving can become taxable income on your 1040 federal income tax return.

As long as you are still breathing and earning any amount of qualified earned income you will still be paying the social security and medicare taxes on the earned income.

Go to the IRS gov website and use the search box for IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits.

Use the search box for 1040 and choose the 1040 instructions go to Page 28 of the 1040 instructions book page that has the Social Security Benefits Worksheet for Lines 20a and 20b of the 1040 tax form.

If you received income from other sources, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status.

For a single taxpayer the base amount (cap) is 25000.

Your taxable benefits and modified adjusted gross income are figured on a worksheet in the Form 1040A or Form 1040 Instruction booklet.

You can do the following quick computation to determine whether some of your benefits may be taxable:

• First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income.
• Then, compare this total to the base amount for your filing status, if the total is more than your base amount, then some of your benefits may be taxable. From 50% to 85% of your SSB can become taxable income on your 1040 income tax return and would be added to all of your other gross income and taxed at your marginal tax rate.

Answer 2

Yes you do as long as you are still breathing and earning income from providing your services you will be subject to the social security and medicare tax amounts on all of your earned income until you meet the maximum social security contribution amount for the year 2010 which is 106800 from one employer and the social security amount withheld is 6621.60

Answer 3

Not if your income is below $25,000 per year for a single person, or below $32,000 per year for a couple filing jointly. Payment is based total taxable income, not age.

Answer 4

Yes - if your total income is greater than $25,000

If you file jointly, you have to pay tax if both you and your spouse have a combined income greater than $32,000

Answer 5

I think so. The government doesn't care how old you are as far as taxes go. Check with the social security office near you or look at the web site on line. There should be a FAQ page.

Answer 6

do you still pay for medicare when you turn 70

Answer 7

No