Internship Questions?

[ionbasa]

Well, I am glad to say that I get the option of choosing if I want to internship this summer with a local tier 2 level ISP.

 

Now my major of study is 'engineering' (ME to be exact), I realise that this doesn't exactly line up with my overall goals, but it would still be useful for some real world experience.

 

Now I have some questions, as for the most part I know very little about these things:

 

Taxes. I would assume that all income I earn from the internship is taxable?

 

I have to sign a NDA, if a future employer where to inquire about my internship, would I have to tell them that I am under NDA? Or is there usually a limit on where the NDA applies, say two years after I leave? I don't know the entire specifics of the NDA yet.

[isteelsolz]

I cant answer you questions about takes and such, but in regards to the NDA, it will more than likely only cover specific details about the inner workings of the ISP. Company secrets,  company Practices, contract loopholes etc. And stops you from badmouthing the company after your internship is over. In all likelihood you will be able to discuss what you did during the internship, so dont worry there.

[ionbasa]

I cant answer you questions about takes and such, but in regards to the NDA, it will more than likely only cover specific details about the inner workings of the ISP. Company secrets,  company Practices, contract loopholes etc. And stops you from badmouthing the company after your internship is over. In all likelihood you will be able to discuss what you did during the internship, so dont worry there.

Ok, cool. I won't know specifics until Wednesday when I meet with the people in charge of hiring.

[Blade of Grass]

It would depend what the NDA says exactly, though I'm sure most of the time, companies would be fine with a "I'm sorry, that's under NDA" answer. More than. Likely, it's for ever unless stated otherwise.

EDIT: if the laws there are similar to ours, any source of income is taxable.

[dizmo]

I'd have to agree with @Blade of Grass. I imagine your income would most definitely be taxable. I can't see the government not wanting their cut
That said I'm sure you'd get most of the taxes back since you're a student, no?

[ionbasa]

So after doing some research, as long as my gross income does not exceed $10,000 this summer I am not required to file for taxes. But there are benefits if I do, specifically, a sizable tax return, along with a student tax credit.

[DLM_012]

So after doing some research, as long as my gross income does not exceed $10,000 this summer I am not required to file for taxes. But there are benefits if I do, specifically, a sizable tax return, along with a student tax credit.

 

Yup I made about that much last year because I started halfway through the year. Needless to say I'll be getting roughly $300 back from the federal govt. 

[Real_PhillBert]

Congrats on the internship! And great choice on ME, I happen to be an ME myself. I am assuming by ME you mean Mechanical Engineering and not Manufacturing Engineering.

 

Your not going to like this next part, I would encourage you to try to find an internship that is a bit more applicable to your field. Not that any internship is a bad thing, any internship is better than no internship. But not all internships are created equal. If you can easily find a company that does some mechanical engineering, it would be in your best interest to get onboard with them over your ISP.

 

NDA's are just a legal contract, they are all different. Some expire in a set amount of time, others do not. Read the NDA to be sure.

 

As for the taxes, There are only two things that are certain in life, death and taxes. If the government can find a way to take a chunk of your earnings they will do just that. But I am no tax expert, especially not in California.

 

Good luck and have fun!