Age limit on taxes

Discussion in 'Tax' started by RJ, Apr 17, 2005.

  1. RJ

    RJ Guest

    Is there an age limit for paying taxes? My 80 year old dad
    seems to think that he shouldn't have to pay any more.

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    RJ, Apr 17, 2005
    #1
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  2. RJ

    Phil Marti Guest

    "RJ" <> wrote:

    > Is there an age limit for paying taxes? My 80 year old dad
    > seems to think that he shouldn't have to pay any more.


    >Heck, I'm only 56, and I don't think I should have to pay any more. Sadly,

    both your father's and my wishes aren't in accord with the law. There's no
    age limit.

    --
    Phil Marti
    Clarksburg, MD

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    Phil Marti, Apr 18, 2005
    #2
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  3. RJ

    Guest

    >No age limit... It goes from birth to death and after if there is
    income. He may not need to file if there is not enough taxable income,
    but the only way to find that out is to run the numbers.

    Missy Doyle

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    , Apr 18, 2005
    #3
  4. RJ

    MTW Guest

    RJ wrote:

    > Is there an age limit for paying taxes? My 80 year old dad
    > seems to think that he shouldn't have to pay any more.


    I started thinking that when I HIT 18 !!! <grin>

    MTW

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    MTW, Apr 18, 2005
    #4
  5. RJ

    Bill Guest

    (RJ) asked:

    > Is there an age limit for paying taxes? My 80
    > year old dad seems to think that he shouldn't
    > have to pay any more.


    No such thing.

    >I once had a 101-year old T/P come to my Tax-Aide site. She thought

    they ought to let people over 100 forget about taxes. (Not a bad idea
    -- and probably wouldn't cost the gov much, either.) Since her actual
    income was under the amount required for filing a return, I was happy to
    inform her that in her case, she _could_ "forget it."

    >But I warned her that if she won the lottery, or had some other windfall

    the next year, she would have to go back to filing. (One can't really
    be too careful about kidding around when it comes to taxes. <G>)

    Bill

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    Bill, Apr 18, 2005
    #5
  6. RJ

    Paul Guest

    "RJ" <> wrote

    > Is there an age limit for paying taxes? My 80 year old dad
    > seems to think that he shouldn't have to pay any more.


    >It's all income based. If his income is sufficient enough, he files.


    --
    Paul A. Thomas, CPA
    Athens, Georgia

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    Paul, Apr 18, 2005
    #6
  7. "RJ" <> wrote:

    > Is there an age limit for paying taxes? My 80 year old dad
    > seems to think that he shouldn't have to pay any more.


    Does he believe the moon landing was fake too?

    --
    David M. Woods, EA, ChFC, CLU
    Woods Financial Services
    Norwood, MA 02062
    www.woods-financial.com

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    David Woods, EA, ChFC, CLU, Apr 18, 2005
    #7
  8. RJ

    D. Stussy Guest

    RJ wrote:

    > Is there an age limit for paying taxes? My 80 year old dad
    > seems to think that he shouldn't have to pay any more.


    No age limit.

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    D. Stussy, Apr 18, 2005
    #8
  9. Phil Marti wrote:
    > "RJ" <> wrote:


    >> Is there an age limit for paying taxes? My 80 year old dad
    >> seems to think that he shouldn't have to pay any more.


    >> Heck, I'm only 56, and I don't think I should have to pay
    >> any more. Sadly,


    > both your father's and my wishes aren't in accord with the
    > law. There's no age limit.


    Yes there is. It's one year after you DIE! (MUUHHAHHAAAHHAAAA!

    ChEAr$,
    Harlan Lunsford, EA n LA

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    Harlan Lunsford, Apr 19, 2005
    #9
  10. D. Stussy wrote:
    > RJ wrote:


    >> Is there an age limit for paying taxes? My 80 year old dad
    >> seems to think that he shouldn't have to pay any more.


    > No age limit.


    On an allied issue, amazing how many people thing that once
    you're drawing social security, you're no longer FICA taxed.

    ChEAr$,
    Harlan Lunsford, EA n LA

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    Harlan Lunsford, Apr 19, 2005
    #10
  11. >>> Is there an age limit for paying taxes? My 80 year old dad
    >>> seems to think that he shouldn't have to pay any more.
    >>>
    >>> Heck, I'm only 56, and I don't think I should have to pay
    >>> any more. Sadly,


    >> both your father's and my wishes aren't in accord with the
    >> law. There's no age limit.


    > Yes there is. It's one year after you DIE! (MUUHHAHHAAAHHAAAA!


    Only if your estate closes in that year. Otherwise, you
    keep paying taxes.

    "Death and taxes"--I only wish they came in that order.

    Seth

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    Seth Breidbart, Apr 20, 2005
    #11
  12. Harlan Lunsford wrote:
    > Phil Marti wrote:
    >> "RJ" <> wrote:


    >>> Is there an age limit for paying taxes? My 80 year old dad
    >>> seems to think that he shouldn't have to pay any more.


    >>> Heck, I'm only 56, and I don't think I should have to pay
    >>> any more. Sadly,


    >> both your father's and my wishes aren't in accord with the
    >> law. There's no age limit.


    > Yes there is. It's one year after you DIE! (MUUHHAHHAAAHHAAAA!


    If you are un-dead, does that mean you escape taxation?
    Therefore, IRS agents are exempt from taxation.

    --
    Frederick E. Jorden http://Tax-Accounting-Payroll.com
    7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
    EMAIL
    (804) 320-6210 FAX (804) 320-6211

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    Frederick Jorden, Apr 20, 2005
    #12
  13. >>>> Is there an age limit for paying taxes? My 80 year old dad
    >>>> seems to think that he shouldn't have to pay any more.
    >>>>
    >>>> Heck, I'm only 56, and I don't think I should have to pay
    >>>> any more. Sadly,


    >>> both your father's and my wishes aren't in accord with the
    >>> law. There's no age limit.


    >> Yes there is. It's one year after you DIE! (MUUHHAHHAAAHHAAAA!


    > Only if your estate closes in that year. Otherwise, you
    > keep paying taxes.


    I was referring to the 1040 only and personally filing
    and/or paying.

    ChEAr$,
    Harlan Lunsford

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    Harlan Lunsford, Apr 21, 2005
    #13
  14. >>>>> Is there an age limit for paying taxes? My 80 year old dad
    >>>>> seems to think that he shouldn't have to pay any more.


    >>> Yes there is. It's one year after you DIE! (MUUHHAHHAAAHHAAAA!


    >> Only if your estate closes in that year. Otherwise, you
    >> keep paying taxes.


    > I was referring to the 1040 only and personally filing
    > and/or paying.


    Right. There are still 1041's being filed for income that
    would belong to J. Paul Getty if he were still alive.

    Stu

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    Stuart A. Bronstein, Apr 23, 2005
    #14
  15. RJ

    Katie Guest

    Harlan Lunsford wrote:
    > D. Stussy wrote:
    >> RJ wrote:


    >>> Is there an age limit for paying taxes? My 80 year old dad
    >>> seems to think that he shouldn't have to pay any more.


    >> No age limit.


    > On an allied issue, amazing how many people thing that once
    > you're drawing social security, you're no longer FICA taxed.


    I ran into one of those this year. He was most offended to
    find he owed self-employment tax on his Schedule C income.

    Personally I think both income tax and FICA should stop at
    age 69 -- a nice round number (which I will reach in June 05
    <G>)

    Katie in San Diego

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    Katie, Apr 25, 2005
    #15
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