will my income tax be less at age 70 /?
928222
If you're in the US, your taxes will only go down if your income does.  But there are a few things that reduce it a bit.  At 65 you get a higher standard deduction. Also, depending on your non-social-security income, none or only part (up to 85%) of your social security is taxed - this does not depend on your age.
872613
i think the word youre looking for is "exemptions", the more exemptions you have the less taxes will be withheld from your salary, and the higher the net check will be.  you fill out this info on the form w-4 when you start a job.  if you feel that they are taking too much/too little out you can change this with your human resources dept.\nalso if you do have dependants this will help reduce your taxes, but do not make up imaginary children b/c you will get caught.
452723
Probably a lower one because millionaires usually know or learn how to have more write-offs and no doubt pay less taxes than the working class and believe me $100,000 a year is not all that much nowadays. Good luck! :-)
846924
The first thing you should note is that you have an annual personal tax allowance of £5035. This means you do not pay tax on the first £5035 in any tax year. (april-april).\n\nOn the next £2151 you pay tax at a rate of 10%.\n\nBetween  £2151 and £33300 (over the allowance) you pay 22% Tax.\n\nAnything above this you pay 40% tax.\n\nThis means the higher tax band starts at £38,335 (£33,300+£5035). Any income above this will be subject to 40% income tax.\n\nTo complicate matters you pay national insurance at 11% for earnings between £97 and £645pw but this drops to 1% above £645pw.\n\nIf you are close to the higher tax band you may be able to bring yourself back below the band by paying more into your pension. There is no other legitimate way to avoid the 40% demand.\n\nAlso make sure your savings and investments are in tax efficient forms (such as ISAs). This will mean that you don't have to pay tax on your interest.\n\nNote:-\nThis assumes you are below 65 (above 65 your personal allowance increases to £7280).\n\nIncome includes all income including investments (rental income, interest, share dividends etc.) \n\nBe happy with earning a decent wage!
885223
No. You have to pay income tax @30%+SC@10%+EC@2%.
1103564
"Unless changes are made, at age 69 in 2040 your scheduled benefits could be reduced by 26 percent and could continue to be reduced every year thereafter from presently scheduled levels. See the 2006 Trustees Report."\n\nhttp://www.ssa.gov/qa.htm\n\nNo one knows for sure...but there is an extensive amount of information on this topic available on the web.
44339
No you won't get penalized.  It is like giving an interest free loan to the IRS but a good way o trick yourself into saving money.  $100 might make too big of a difference in you paycheck try $50.
30594
Fear not. If you made less than $3000 you'll get it all back when you do your taxes
511394
only if you are below the tax free threshold of $6001 or have deductions that will take it below that. (thats why you pay tax during the year so the tax dept. dont hit you with the bill at the end)
172061
nothing on the first-ok, around $7000.  15% on the next $7000 to about $25000 (sorry, i didnt look these up).  $25K to $45K about 25%.  35% max.  But dont forget 7.5% social security, and 4.5% (?) medicare, both on $0-86000.  And dontdont forget, if you have dependents, each cuts out about $5000 (?) of income from being taxed.
268931
It depends on where you live. Look it up at IRS.GOV
453258
try to deffer the payments as much as possible so that if this ends up being you only source of income then you will end up paying less taxes i don't think that it will be tax free. unless it is a roth IRA where you paid taxes upfront to later have tax free money when you get the money.
856756
you are not eligible to pay tax if your total earnings are less than your personal allowance, which is 5035 for this year.if you are earning up to 5035 pounds then they will not charge you tax, if they do then you can reclaim that tax back.Similarly you can claimback for your excess deduction as well, for the last three years. hopes this satisfy your question
954749
Around 70, lower if he is very fit ...;
219511
You should check with whoever is managing your plan, or your accountant should know, but this might be helpful:  \n\nDo I have to withdraw all of my 401(k) savings when I reach age 70½?\nWhen you reach age 70½, you're required to withdraw a minimum amount depending on your life expectancy. An actuarial table showing life expectancies is available from the Internal Revenue Service (IRS). You must begin receiving these payments by April 1 of the calendar year following the year you turn 70½. \n\nTo determine your required minimum distribution, divide your 401(k) account balance by the number of years remaining in your life or by the remaining joint life expectancy of you and your spouse. Try the calculation both ways. You may find it more advantageous to determine your mandatory withdrawal amount by using both life expectancies instead of yours alone. \n\nYou may have to recalculate this mandatory distribution amount each year because of your account balance and life expectancy. \n\nYou must pay income tax on each of these mandatory distributions. You cannot roll the distributions into an IRA.
414499
I'm sure that anyone that has worked must file a tax return, regardless of age. Usually you will receive money back! So don't delay...file today!
4641
yup, unless you're 59 and a half, then you will have to pay the full tax on the money taken out of your 401k plan, which means if you are working right now, you are in your income earning years, hence your tax bracket should be higher, maybe even to the next level depending on how much you take out of your 401k, since that would be counted as regular income.  and the IRS (uncle sam calls it a penalty, but I like to call it a tip) would also be needing that tip from you, a 10% tip for every buck you want to take out.  so, if you take 20,000 out, that would be more like 14,400 if your bracket is in the 28% range minus $2000 for that tip i would telling you about, which leaves you 12,400 for taking out 20,000.  not really worth it huh