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talkington1234
New Member

After age 71 do i have to pay federal income taxes on earnings

after age 71 do I have to pay federal income taxes on earnings?

2 Replies
xmasbaby0
Level 15

After age 71 do i have to pay federal income taxes on earnings

Yes.   Up to 85% of your Social Security benefits can be taxable.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable. 

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2016 that limit was $15,720)  After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.


**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
travelinman322
Level 1

After age 71 do i have to pay federal income taxes on earnings

Why are we being taxed on s/s when we already paid tax on it when it was taken out of our paychecks?
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