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Thread: Warwick VS Georgetown Economics PhD

  1. #11
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    Re: Warwick VS Georgetown Economics PhD

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    The tax rate in the U.S. depends on your total income. If all you are earning is a graduate student stipend, it will likely be quite low--possibly zero. However, the university will withhold part of you earnings to pay possible taxes and you will have to file an income tax return at the end of the year to get the money back.

  2. #12
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    Re: Warwick VS Georgetown Economics PhD

    Tax rate is 30%. 20K in hand, post tax. I don't think it's enough for DC. Is it?

  3. #13
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    Re: Warwick VS Georgetown Economics PhD

    I doubt the tax rate in DC on a graduate student stipend is 30%.

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    Re: Warwick VS Georgetown Economics PhD

    I believe this is relevant to you:

    U.S. source scholarships/fellowships are reportable only for amounts which are taxable. The taxable portion of a scholarship/fellowship is that portion which is not excludible from gross income as a "qualified scholarship" under IRC section 117. Withhold at 14% if the payee is in F, J, M, or Q nonimmigrant status. Withhold at 30% for payees in other nonimmigrant statuses. The student articles of some income tax treaties exempt scholarships/fellowships from U.S. income tax. (See Table 2 in IRS Publication 515 or 901.) The beneficial owner may claim the lesser tax treaty rate by filing Form W-8BEN with the withholding agent. The withholding agent will report the payment on Forms 1042 and 1042-S, even if the entire amount is exempt under a tax treaty.
    From Federal Income Tax Withholding and Reporting on Other Kinds of U.S. Source Income Paid to Nonresident Aliens | Internal Revenue Service

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    Re: Warwick VS Georgetown Economics PhD

    Thanks for the clarification on the tax rate. It seems to me exactly how much of the financial support is considered 'taxable income' is a bit hard to determine. Might have to ask the Department for that.

    How much stipend does Warwick provide for admitted students? $20k after tax in DC is a bit tough.

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    Re: Warwick VS Georgetown Economics PhD

    Quote Originally Posted by leolin View Post
    Thanks for the clarification on the tax rate. It seems to me exactly how much of the financial support is considered 'taxable income' is a bit hard to determine. Might have to ask the Department for that.

    How much stipend does Warwick provide for admitted students? $20k after tax in DC is a bit tough.
    Are you not on an F or a J visa? You should assume that all of the stipend you receive is taxable.

    Based on this website, it looks like you will receive a 10,000 stipend for your MRes, then the ESRC will cover you after that: https://warwick.ac.uk/fac/arts/histo...ate/pgfunding/

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    Re: Warwick VS Georgetown Economics PhD

    Just to add my two cents: Coventry, UK is depressing af. I don't know anyone (except, maybe, Sascha Becker) from Econ department at Warwick who likes the surroundings.

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    Re: Warwick VS Georgetown Economics PhD

    Quote Originally Posted by EXP View Post
    Are you not on an F or a J visa? You should assume that all of the stipend you receive is taxable.

    Based on this website, it looks like you will receive a 10,000 stipend for your MRes, then the ESRC will cover you after that: https://warwick.ac.uk/fac/arts/histo...ate/pgfunding/
    Yes I'm from New Zealand and I'll come in on a J visa. I agree all stipends should be taxable.

    Do you know what would be the applicable personal income tax rate for aliens?

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    Re: Warwick VS Georgetown Economics PhD

    Quote Originally Posted by leolin View Post
    Yes I'm from New Zealand and I'll come in on a J visa. I agree all stipends should be taxable.

    Do you know what would be the applicable personal income tax rate for aliens?
    I am not a tax expert, but based on the website I linked above, you should be taxed at 14%.

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    Re: Warwick VS Georgetown Economics PhD

    Quote Originally Posted by EXP View Post
    I am not a tax expert, but based on the website I linked above, you should be taxed at 14%.
    Remember that this does not take into account FICA (7.65%) and state income tax for whichever state you reside in.

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