I’m currently in school to be a Dr and a hospital offered a loan repayment contract to me. I still have 4 years left in my school and training. In the contract, it says I will be responsible for paying the taxes on the money I receive and that they will not withhold any money from my stipend.
I will begin receiving money now, monthly, for the next 4 years until it adds up to be $100,000. Once I begin working for them (4 years from now), I will receive an additional $50,000 sign on bonus. At the end of each year for the first three years that I’ll be working (starting in 2030), I’ll receive a W2 with 1/3 of the loan amount.
My question is do I pay taxes on the money now as it comes to me monthly or would I pay once I file the W2 starting in 2030/2031? Thank you.
Posted by Hhahahhahahahhaaa