Figuring out whether and how much to pay in income taxes is probably the #1 area of money management that stumps graduate students, and it seems no one is able to help. Parents, friends, even income tax preparers are all confused… and the people who know how to help, the university and funding agency employees, are barred from giving tax advice!
I am not a tax professional here at PF for PhDs, but I have pored over IRS documentation to figure it out. I will cut through the legalese to give you the straight information you need to file your taxes, all the while linking to reliable documentation so you can check it for yourself.
Grad Student Income Tax Guide 2016
Grad students, don’t believe these tax lies!
How do I prepare my taxes in filing season?
How do I calculate and report my taxable income?
Do I have to pay income tax throughout the year and how do I do it?
Further Reading:
- Tax Lies Told to Graduate Students
- Winning a Fight with the IRS
- Marginal Tax Brackets, Deductions, and Credits Explained Graphically
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[…] quite a bit about taxes this year for our personal return. (I additionally learned a lot about grad student taxes, but that was more academic for […]