Tax for seniors in pension

The majority of the senior citizen population relies on their pension for survival and necessities. Some enjoy the benefits of being taken under the wing of their children. Others are put in nursing homes to await death in their beds. These were the logical scenarios of aging.
Today, where most men and women have learned the value of staying healthy despite the age of senility
and physical deterioration, some continue to work despite retirement.

There are active senior citizens who refuse to take a chair at home and watch sunrise and sunset every day.
Some enjoy time alone with their grandchildren, while others who have no family to turn to spend their time
working. There are tags for jobs for seniors in advertisements everywhere, calling for able bodied seniors to
earn while they still can without the burden of paying taxes. Jobs for seniors are a bandwagon strategy to
convince worthy and agile elders to earn money despite retirement.

The jobs performed will be compensated in cash and need not pass through the taxing powers of the government;
rather the cash compensations are spared from tax, because no records of its payment will be made.
This scheme is a good way to help and motivate elderly people who cannot simply shove off their working habits and put them to good use while they still can. It also offers them a greater value for their performance and services rendered since tax deductions are eliminated.

The elimination of taxes on their income offers comfort and extra allowance to cover for leisurely activities, whether for personal satisfaction or for family benefit. The payment of cash directly to the senior worker will also eliminate travel expenses to cash checks or withdraw them from banks.

The ease of movement and consumption of the hard earned money is what makes the bandwagon a hit with local senior citizen residents. The jobs for seniors, cash no tax scheme, is actually a pretty decent and effective way of evading employer’s tax and minimizing business taxes. Looking at the scheme of the ad, it allows businessmen to employ the skills and knowledge of functional senior citizens, without having to record their employment thus eliminating the need to cover their taxes and in effect minimizing the amount taxable for its income.

Imagine a tutorial center, which employs 20 personnel. 40% of these employees are all senior citizens paid or compensated in cash. Imagine how much unremitted tax will be missed by the government from these employers who will only remit 60% of the expected taxes derived from the operations of the tutorial center. Pending the resolution of the global economic crisis, the federal government has greatly increased the taxes to be deducted from any form of income to come up with a subsidy for the growing budget deficit. Jobs for senior cash no tax is an alternative solution for senior citizens not receiving enough to maintain the high cost of living and for business operators to remit a little less and take home something for the sustenance of their business with the existence of the dying economy.

 

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