Yes, unless you qualify for elderly or senior citizen real estate tax relief provided by some states. Each state in the United States has different tax laws concerning elderly or senior citizen tax relief. Most have household income and asset ceilings that if you go over them, regardless of your age, you do not qualify. Check with your local assessor or tax collector.
in GI NE
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.
no they are considered to be an senior citizens
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.
My mom is 88 years old and is still paying outrages federal income taxes. I have always heard, that at age 70, you could earn as much as you want, without being taxed. She has a little farm, which pays her about 20,000 a year, and she has a very small pension, and a very small social security, since she is what they called a notch baby. Could you give me some information on how she should be taxed?
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.
yes you do my father pays taxes he is 70
I have an employee over 70 years of age, can she stop withholding her FICA taxes? (Social Security) Thank you
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.
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.
Yes!
no they are considered to be an senior citizens
yes
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
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.
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
70
19*70 = (20 - 1)*70 = 20*70 - 1*70 = 1400 - 70 = 1330