Stipends and Taxes

[NeilM]

Hi GradCafe,

I have no idea how I'll be paid (W-2 vs other tax forms) and I plan to ask graduate students at the university I will be attending, but how do you all pay your taxes? Are they automatically withheld or do you pay them quarterly? Do you use a CPA?

[Teaching Faculty Wannabe]

23 minutes ago, NeilM said:

Hi GradCafe,

I have no idea how I'll be paid (W-2 vs other tax forms) and I plan to ask graduate students at the university I will be attending, but how do you all pay your taxes? Are they automatically withheld or do you pay them quarterly? Do you use a CPA?

Hi there! Taxes are not typically withheld from fellowships, but are usually withheld from stipends for TA and RA positions. I only know this from doing tons of research. I have included a lot previous forums about this subject. I am sorry it is a lot, but taxes are super complicated and I am still trying to figure them out myself. I hope this helps!

 

[magnetite]

That was an incredibly helpful post, @Moods. I'm not sure how I'm the first upvote!

I found the following two individual posts in those threads particularly useful to get an idea of how much in taxes I'd be paying:
 

 

 

[NeilM]

Thank you both so very much! This was extremely helpful!