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I read somewhere that self-employment tax was no longer owed after full retirement age. Is this correct?
I read that after age 67, IRS no longer collected self employment tax but TurboTax calculated it. Is that one of the loopholes closed in the new tax law?
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June 5, 2019
11:51 PM
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Retirement tax questions
I know there is a lot of conflicting information when it comes to taxes owed once you retire. Unfortunately, not all of it is true. The self-employment tax rules apply no matter how old you are and even if you are already receiving Social Security or Medicare.
Please view Who Must Pay Self-Employment Tax? included in the IRS link below for verification.
June 5, 2019
11:51 PM