Page 1 of 1

Were we supposed to pay taxes?

PostPosted: Sun Aug 04, 2019 11:53 am
by HOrobOD
So I ran into another SMART intern at my SF a few weeks ago and she told me that we weren't supposed to pay taxes this year. She told me that another intern she knew had paid taxes and got a refund. I payed nearly 3k in taxes this year, so if I wasn't supposed to, I would really like to know.

Does anyone else know if this is true?

Re: Were we supposed to pay taxes?

PostPosted: Sun Aug 04, 2019 12:21 pm
by JDetwiler
I've heard a number of various things about this and am wondering how they're filing taxes too. I paid quite a bit using the instructions for being an independent contractor, so I'm wondering how people are getting refunds when we don't have taxes taken out to begin with.

Re: Were we supposed to pay taxes?

PostPosted: Thu Aug 08, 2019 11:08 pm
by kbl2017
*not an accountant and am not completely accursed te on my %s* There is no rule either way. You can pay quarterly to make smaller payments 4 times a year instead of one big one. I personally did not pay any taxes ahead of time. You risk the possibility of a late fee by not doing so, but if they come after me for that in a year and a half so be it, it'd be something like 5% which makes a big difference in much higher income than ours . It's also scholarship income, you are independent contractors who are not self employed thus you shouldn't be paying any self employment income as this is in exchange for going to school not for doing work. I'd rather have underpaid them and owed more than over paid them and not gotten it back.