Title: Demystifying Taxes for Graduate Students and Postdocs
Format: Live lecture with Q&A (in person or remote)
Intended Audience: Graduate students receiving stipends, postdocs
Length: 90 minutes
Timing: January to July
Live Seminar Outline: Demystifying Taxes for Grad Students and Postdocs from Emily Roberts on Vimeo.
Summary: Preparing a tax return can be daunting for a trainee, especially when fellowships and scholarships are involved, and it’s difficult to find resources that address this special situation. This presentation introduces how ordinary income is taxed and addresses how to calculate and report trainee income specifically.
Outline:
- Federal income tax basics (deductions, credits, progressive tax brackets)
- Tax preparation methods
- Finding and categorizing your income
- Applying education tax benefits
- Where to report your higher education income and expenses
- Quarterly estimated tax for fellows
- State tax
- Tax repercussions of awarded income
