This is a very brief post that I hope will help future predocs not to have a heart attack after their first year living in Boston. If your country doesn't have any special tax treaty with the US, be ready to pay a lot of money in taxes. The details of how to fill the forms are beyond the scope of this post, but at least I will give some rough numbers in case you get a stipend of ~ 2K dollars per month:
state tax: more than US$1000 per year.
federal tax: more than US$3000 per year.
SAO will discount the federal tax from your paycheck during the first year, but afterward is your responsability to do the payments. The state tax payments depend on you from the begining.
Now that you know the cruel truth, be sure to save enough money!!
all the best,
Jose
Friday, April 24, 2009
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