It’s tax time here in the U.S. Figuring out how much your taxes will be is a headache for many, including grad students. Each semester seems to bring a different set of circumstances.
Earlier in the semester I went to a seminar held by the university to help domestic grad students navigate their taxes. I think it helped me to understand the nuances a bit. I use tax software to get the job done since it’s proven to be more efficient and more accurate than me sitting down with my 1040. But it’s always nice to understand what’s going on inside that black box of TurboTax or whatever you might be using.
Of course, I don’t have to tell you that I’m no tax expert and claim no responsibility if things go wrong on your taxes. But hopefully this information will help other grad students unsure about how to maximize their tax benefits.