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employee over 65 years paying social security, medicare, and other taxes or not?
Does an employee over 65 years old continue paying social security and medicare? As an employer, do I withhold income taxes from this elder? I could not find any documentation stating on this subject. Does anybody know where what publication touches base on this?
Thanks
5 Answers
- BobbieLv 79 years agoFavorite Answer
Yes we do as long we are still breathing and working and receiving income for performing our services out to earn this income.
Even after you retire, you must pay Social Security and Medicare taxes on your earned income. The Social Security system does not designate your payments to your account, but deposits the money into a trust fund used to pay present or future Social Security recipients.
Read more: Do You Have to Pay Social Security After Full Retirement?
eHow.com http://www.ehow.com/info_7840653_do-security-after...
Hope that you find the above enclosed information useful. 07/15/2012
- 9 years ago
You do payroll the same way as always, they will still owe fica/med because its their choice to continue working.
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