GOP Tax Plan on Medical Students

[AaronRodgersMD]

So I am aware this bill that just passed in both House and Senate is bad news bears for graduate students and will treat waived tuition and certain loans as taxable income, rendering a higher ed degree completely unaffordable for a lot of people. Anybody know if this plan extends to MD students or is it strictly for Ph. D students? Haven't been able to find much information on this.

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[lifeisball]

Not sure, but the Senate version of the bill does not bear the bad news bears, so we have to wait and see what the reconciled tax plan between the two houses will bear.

 

[lifeisball]

Not sure, but the Senate version of the bill does not bear the bad news bears, so we have to wait and see what the reconciled tax plan between the two houses will bear.

Btw. go Pack go!! boo bears...

 

[LebronManning]

All that matters is docs will pay less taxes when they're rich

 

[68PGunner]

All that matters is docs will pay less taxes when they're rich

That's a dubious claim at best.

 

[LebronManning]

That's a dubious claim at best.

marginally less income tax, no more AMT = good for employed physicians
15% cut in business tax = great for PP physicians

 

[68PGunner]

marginally less income tax, no more AMT = good for employed physicians
15% cut in business tax = great for PP physicians

It's a little bit more complicated than that depending on your tax filing status. But, nothing will be set until the final bill.

As for the removal of PAYE, REPAYE, and PSLF, I find it hard to believe that they will straight up cut the program since they're written in every issued MPNs. Just wait and see. I doubt that current borrowers will get screwed harshly.

 

[MC_Spartan]

So I am aware this bill that just passed in both House and Senate is bad news bears for graduate students and will treat waived tuition and certain loans as taxable income, rendering a higher ed degree completely unaffordable for a lot of people. Anybody know if this plan extends to MD students or is it strictly for Ph. D students? Haven't been able to find much information on this.

That thing you're worried about didn't happen, not in the final bill. Tuition waivers remain tax free