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Is the salary which child support is based on before or after any pretax deductions?
Wiki User
∙ 14y ago
This is dependent on individual state guidelines. Texas uses net income while Missouri uses gross. Using net income can be problematic, as it's determinant based on the number of deductions taken. Properly, the obligor parent should take as many as possible to avoid having an attachable return due to the high rate of errors on the part of child support.
Wiki User
∙ 14y ago
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What all deductions are needed for gross salary?
Gross salary means the total salary BEFORE any deductions are taken, so the answer is no deductions.
What effect do pretax salary reductions have on the federal income tax?
what effect do pretax salary reductions have on the federal income tax?
What does gross annual salary mean?
Gross annual salary is the amount of money a person made in 1 year. This amount is before taxes, insurance, child support, or any other deductions were taken out.
Are Social Security Administration taxable wages reduced by pretax deduction?
It depends on the deduction. Most common deductions such as medical premiums reduce SS taxable wages. But salary-deferal types of deductions do not. For example, employee contributions to a 401lk or Simple IRA do not reduce SS taxable wages.
What is difference between gross salary and net salary?
Let's say your employer agrees to pay you $1000 per month, and then (for example) 20% of that is deducted for taxes and social benefits, so you only get $800. The gross salary is the salary before the deductions. In the above example, 1000. The net salary is after the deductions. In the example, 800.
Sherri has a gross monthly salary of 4700?
A gross monthly salary is the amount of money you make before taxes and withholding. The net amount is what is left after deductions.
What is the journal entries for salary is paid to him?
The journal entries for salary payments are (Dr = debit, Cr = credit): Dr Salary Expense (P&L) - Gross Salary Cr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Net Salary paid to employee Then when the salary deductions are paid over, usually the following month the entries are: Dr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Salary Deductions
What is your yearly salary if you work 5 days a week 20 hours at 9 dollar an hour?
$46,800 before deductions
Mustafa contributes 11 of his 67200 annual salary to his 401(k) plan. What is his pretax income?
59,808
What is your gross pay?
a sum of money before any thing like taxes or insurances or pension funds are taken off, that is called ' gross salary" after all the deductions are taken off you have what is called "net salary" or take-home pay.
What is the difference of gross salary between net salary?
Gross salary is the headline salary that an employee is paid prior to any deductions. Net salary is what is actually paid into the employees bank account after deductions, the deductions could include some of the following: * Taxation * National Insurance * Pension Contributions * Union Subscriptions * Student loan repayments For exmple a job might be advertised as paying £20,000 pa, this is the gross salary, however after deductions the employee might receive £14,000 pa, this is the next salary
How do you convert after-tax salary to before-tax salary?
Divide your post tax income by your effective tax rate %. (After tax)/(effective tax rate %) = Before tax income Your effective tax rate is your tax amount divided by your taxable income (net any deductions). (tax paid in $ + tax bill/refund)/(income - deductions $)
