Student Tax Rules: What You Need to Know > 자유게시판

Working students often take on side jobs to manage costs such as textbooks, housing, or daily living expenses — earning money while in school doesn’t exempt you from tax obligations.

If you earn money from a job, whether it’s through a campus job, internship, or freelance work — it could trigger obligations for both federal and local tax authorities.

Even if you are claimed as a dependent by your parents, you are still required to file a tax return if your income exceeds certain limits set by the IRS.

For the 2023 tax year, if you are single and under 65, you must file a return if your earned income is more than $14,600.

Don’t skip filing just because you’re under the threshold — refunds are common for student workers.

A frequent question among students: Are scholarships and grants taxable? — Funds applied directly to tuition and mandatory fees are typically tax-free.

Any scholarship amount spent on housing, transportation, or non-essential items must be declared.

Document every expense tied to your scholarship to stay compliant.

Freelancing or gig work as a student carries unique tax risks — You may get a 1099-NEC rather than a traditional W-2.

They must cover both income tax and the full 15.3% self-employment tax.

A smart strategy is to save a fixed percentage of every income stream for tax season.

Your state may have filing requirements even if the IRS doesn’t — some states have no income tax, but others require students to file even if they are not required to file federally.

Your state’s department of revenue website can provide accurate information specific to your location.

Many students find the process easier than expected with the right support.

IRS Free File offers free preparation for qualifying low-income students.

Many colleges also offer free tax preparation services through student volunteer programs or in partnership with local organizations.

Finally, keep all your records organized.

Keep every paycheck slip, دانلود کتاب pdf financial statement, education receipt, and IRS form.

Documentation protects you in case of IRS scrutiny or aid verification.

Taxes are more than a requirement; they’re a foundation for financial maturity.

Mastering tax fundamentals now lays the groundwork for future financial confidence.

Beginner-friendly tools and resources make tax filing accessible to everyone.

Just take the first step, ask questions, and use the resources available to you