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Calculate Federal Income Tax Change for Graduate Students Under the Tax Cuts and Jobs Act (TCJA)
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At the moment, this applies only to American students. We will try to build a similar sheet for international students as well.
Having issues? Download the (corrected) excel version here:
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If there are too many people working on this document (and thus messing you up), try downloading this as an excel sheet using the link to the right, or create a copy in your own Google Drive folder.UC Berkeley ExampleMIT Example
https://drive.google.com/file/d/1NQEZtQywbvMliG5iYf2IiNc5pw8Uz7ZC/view?usp=sharing
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Total Income\$35,0004,000\$24,241\$37,000
OR: Go to File -> Make a Copy (you have to be logged into your Google account)
Create a copy of this document in your own GDrive folder, where you can edit it.
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Enter the total amount of your annual take-home income (i.e. money that you get as a paycheck)
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4304
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Health Insurance Plan\$4,3042\$4,304\$3,000
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Enter the amount of your health insurance plan if your institution gives you one as part of your appointment.
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Tuition\$13,793\$13,793\$49,580
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Enter the amount of tuition you have had waived
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Are you on a Fellowship?100
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(Yes = 1, No = 0)
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Tax Increase Under TCJA (dollars)\$29\$1,385\$9,584
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Tax Increase Under TCJA (percentage)0.89%61.41%240.02%
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Want to see the math? Check out the "Math" sheet in this document.
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Information about the impacts of the Tax Cuts and Jobs Act have been written up here:
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https://goo.gl/yUrWgJ
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As soon as we can get it written up, there will be suggested language for emailing or calling your senator on the Stand with Science website:
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standwscience.org
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Questions? Contact Kathy Shield (kshield@berkeley.edu) or Vetri Velan (vvelan@berkeley.edu)
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