by Tax Cuts » Thu Jun 20, 2019 12:08 am
Bohemian Raspberry wrote:What has everyone owed in taxes in the past? I am budgeting my stipend and need to know how much to set aside. I have seen numbers as high as $12,000 in the forum, but a lot more on the sub $6,000 side.
Not entirely sure. My CPA calculated me owing around 5k, but after paying it the IRS issued a correction notice and refunded me a good chunk of that money.
With the recent tax law changes I believe taxes on the stipend are a lot less than before.
[quote="Bohemian Raspberry"]What has everyone owed in taxes in the past? I am budgeting my stipend and need to know how much to set aside. I have seen numbers as high as $12,000 in the forum, but a lot more on the sub $6,000 side.[/quote]
Not entirely sure. My CPA calculated me owing around 5k, but after paying it the IRS issued a correction notice and refunded me a good chunk of that money.
With the recent tax law changes I believe taxes on the stipend are a lot less than before.