2007-05-12 03:47:05 · 6 answers · asked by pappac2002us 2 in Business & Finance ➔ Taxes ➔ United States
No, as long as you have enough income to end up with taxable income after your adjustments to income, either itemized deductions or standard deduction, and personal exemptions, you have to pay income tax no matter what your age.
2007-05-12 03:58:42 · answer #1 · answered by Anonymous · 1⤊ 0⤋
At the moment you die you are no longer liable for income tax. Any earnings are still subject to tax but those would be estate taxes not income tax. If you structure your estate properly you can pay tax for ever if you have enough money to sustain such an estate.
2007-05-12 05:09:04 · answer #2 · answered by ? 6 · 0⤊ 3⤋
No, it depends on your income, not on your age.
If you're 65 or over, you get a slightly higher standard deduction.
2007-05-12 04:14:21 · answer #3 · answered by Judy 7 · 1⤊ 1⤋
Any year you do not have a job for the whole year and have no other source of money or any year after the year you died in.
the only two things you can count on is Death & Taxes.
2007-05-12 04:18:21 · answer #4 · answered by bob shark 7 · 0⤊ 1⤋
Yes. The year after you die.
2007-05-12 04:39:47 · answer #5 · answered by Wayne Z 7 · 0⤊ 1⤋
Yes. The "dead" age.
2007-05-12 04:48:51 · answer #6 · answered by acmeraven 7 · 0⤊ 1⤋