[wolfgangqpublic]

Now their living stipend is just enough to sustain yourself I've heard, my question is will the amount they offer be taxed if the money I make in a year is below the income tax requirement in my state?

Here is what they say on the website: AmeriCorps.gov > Tax Implications

Obviously I've never paid taxes before, I'd appreciate any clarification.

[Fr_Chuck]

Income is taxed but if you earn under the requirements to file you are not required to file.

If taxes are withheld, you can normally file and receive a refund of taxes paid in,

Remember they do not know ( OK maybe they do) but an employer does not know other income you may have as to a total income.

So yes taxes can be due on the money, but if you have to file will depend on total amount of money earned for the year from all sourses and the federal level you have to pay or not pay

[wolfgangqpublic]

Thanks, I understand.

Does anyone have a familiarity with Americorps? They offer $14,000 for a 12-month term; I assume that is before taxes but I do not know. I'd like to figure out what this comes to per month so as to see if it is sustainable.

[Fr_Chuck]

Yes it is before taxes.

14,000 divided by 12 is 1166 with a few extra cents a month

It works out a week to
14,000 divided by 52
Or 269 a week.

It is just basic money to pay living expenses, not to actually make and save money.

[wolfgangqpublic]

You say it is before taxes, so wouldn't it be considerably less than 1166 / month?

[Fr_Chuck]

After reading their site, it does not sound like they actually withhold any taxes, but merely give you a W2 on some of the money and a 1099 on the parts that are not taxable.

[wolfgangqpublic]

Thanks for your help. For clarification, what do you believe would be the take home pay when all is settled? I realize it's not a job, but I'm in a lease right now that I have to consider.