2006-11-21 06:46:07 · 3 answers · asked by carolly 1 in Business & Finance ➔ Taxes ➔ United States
Is this tax on ordinary income, or something specific, like a pension disbursal? Age doesn't factor into ordinary income (it's a graduated scale, where you pay more if you earn more) but it can matter for certain pension/retirement payments.
2006-11-21 06:55:28 · answer #1 · answered by Dimwit D 2 · 1⤊ 0⤋
As the others have said, the amount and type of income are the main issues. Age does not affect the rate. He is entitled to an increased standard deduction after age 65 and/or if he is blind. This does not change the rate paid on taxable income, but it may reduce the amount of taxable income.
2006-11-21 12:19:29 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
It depends on income, not on age.
2006-11-21 06:48:52 · answer #3 · answered by Wayne Z 7 · 1⤊ 0⤋