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#2
12-26-2008, 03:42 AM
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 Re: Compensation for being a Resident Advisor taxable? - quote - > Since the title is Resident Advisor, I'll assume one of the
but MIT says that since living and eating with the advisees is required, the> requirements of the job is to reside. The last time I checked when an > employee is required to live on the employer's premises, the value of > that housing is not taxed for federal tax purposes. I did a search (imagine that!). My son's college doesn't address the issue, room and board are not taxable. So, they agree with you. Thanks. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
12-24-2008, 08:32 PM
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| Re: Compensation for being a Resident Advisor taxable? Stuart Bronstein wrote: - quote - > "mort" <Mort[at]lccn.com> wrote:
employer provided housing.> > My son is going to be a Resident Advisor at college next term. He > > gets free room and board. It worth about $7,500. Does he pay > > income tax on it? If so, does he have to pay MA tax as a NY > > resident? > Since the title is Resident Advisor, I'll assume one of the > requirements of the job is to reside. The last time I checked when an > employee is required to live on the employer's premises, the value of > that housing is not taxed for federal tax purposes. > As far as the state tax issues, Katie should come along soon with her > usual excellent information and advice. > Stu MA does not require any adjustment to federal gross income for -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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12-24-2008, 07:03 PM
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| Re: Compensation for being a Resident Advisor taxable? "mort" <Mort[at]lccn.com> wrote: - quote - > My son is going to be a Resident Advisor at college next term. He
Since the title is Resident Advisor, I'll assume one of the> gets free room and board. It worth about $7,500. Does he pay > income tax on it? If so, does he have to pay MA tax as a NY > resident? requirements of the job is to reside. The last time I checked when an employee is required to live on the employer's premises, the value of that housing is not taxed for federal tax purposes. As far as the state tax issues, Katie should come along soon with her usual excellent information and advice. Stu -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
12-24-2008, 06:15 PM
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| Compensation for being a Resident Advisor taxable? My son is going to be a Resident Advisor at college next term. He gets free room and board. It worth about $7,500. Does he pay income tax on it? If so, does he have to pay MA tax as a NY resident? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| advisor, compensation, resident, taxable |
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