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Calculating Withholding With Graduate Tuition Benefit
In January this year, I began a graduate degree program at the same college where I work. The college offers a benefit of 90% tuition discount. Our costs are high, so the value of the benefit equates to ~$27k for the year.
I am afraid that this benefit is taxable and I'd like to know how much additional withholding I should be requesting to ensure that we are stuck with a big tax bill next year.
May 29, 2024
11:54 AM