March 17, 2008
Posted by DanielleR
If I make approximately $14,000/year (graduate student stipend), what income tax bracket will I be in and home much will income taxes affect my wages? Thanks!
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March 18, 2008
Posted by Taxman
( 0 ratings )
What you are looking for is a 2008 Tax Rate Schedule, which can be seen fully here: http://www.fairmark.com/refrence/index.htm
For your case specifically:
Taxable income is over - But not over - The tax is - Plus - Of the amount over
8,025 - 32,550 - 802.50 - 15% - 8,025
Leaving us with 802.50 + (6275*.15) = $1,744 in tax withholdings in 2008 or 145 dollars a month in case you are paid monthly at your school.
Good luck to you with your studies.
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