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How much taxes for 1099 income for parent over 70 on SS?
Live in Michigan, Dad is 72 with just social security income and my mother (59) is on disability. Both SS and disability incomes are about $18,000 yr. My dad worked for me on and off throughout the yr cleaning and doing maintenance. I will be giving him a 1099 statement for $13,000. They also own their own home. How much taxes do you think he will have to pay?
Would he still have to pay social security and medicare if he is 73 yrs old?
3 Answers
- RainyLv 51 decade agoFavorite Answer
there are a lot of different out comes based on how they file and how many dependants and deductions etc but an average would be 686.00
- JudyLv 71 decade ago
Not likely any income tax, but he'll owe around $1837 for self-employment tax for social security and medicare.
- Anonymous1 decade ago
self employment taxes never stop. It's based on working, not age.
