taxes???

[Guest emma]

I have a question...does anyone know how much in taxes we'd have to pay from the stipend? That is, if we get a $23K stipend...how much of that goes to taxes?

[Guest Mr Guest]

Google "tax estimator". This will tell you your federal income tax liability. Then subtract the full stipend*0.0765 to take medicare and ss taxes into account. Then you have to look up the state income tax for where you are going.

[Guest Mr Guest]

I've been doing some reading and it looks as if TAs are usually exempt from federal income and FICA taxes.

[enoksrd]

I've been doing some reading and it looks as if TAs are usually exempt from federal income and FICA taxes.

Could you say a little more about this? I thought we had to pay both state and federal income tax on the stipend. I hope you're right though, as it would be worth a few thousand dollars to me

[Guest Mr Guest]

Just Google something along the lines of "teaching assistant tax exempt" and "teaching assistant fica exempt"

There's a lot of info out there

[Guest Mr Guest]

I think we still have to pay state tax unless that particular state has also writen a TA exemption into its tax code. I can't find any info on that for NC.