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  • May 6, 2014, 02:26 AM
    akg070
    Taxes F-1 Student
    My gross income is $62000, in Michigan State.
    Started working with OPT status since May 2014. I am an Indian citizen, I have been in US since August 2012 as a student. Not married, no dependents.
    How much will be deducted in taxes in 1 year? And How much will be refunded at the end of 1 year? (What will be the take home annual income after all deductions and refund?)
  • May 6, 2014, 05:53 AM
    AtlantaTaxExpert
    Though you are working on OPT, you are STILL considered to be a student, so you are exempt from FICA (Social Security and Medicare) taxes.

    However, you ARE liable for federal and state income taxes.

    As an Indian student, you are allowed to claim the standard deduction and personal exemption, so about $10,300 of your income is tax-free. The rest will be taxed progressive, first at 10%, then 15%, then 25%. The exact tax owed will depend on your total salary.

    Not sure what the Michigan tax rates are.

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