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Gross pay is what you make before any deductions. If a job is advertised at $30,000 a year, then that's the gross pay. Net pay is what's left after taxes, health benefits and other deductions are taken out of your check. So gross pay of $30,000 would become something like net pay of $22,564.

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โˆ™ 2012-05-02 20:11:35
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Q: What does gross pay and net pay mean?
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What are the terms gross pay net mean?

Gross pay is pay before taxes have been deducted were net pay is after taxes.


What you mean by gross pay and net pay?

gross pay= the amount a person is entitled to net pay= the amount a person is given after the deductions of different taxes and insurances.


Are garnishments calculated by net pay or gross pay?

are garnishments calculated by gross pay or net pay


What is more gross pay or net pay?

Gross pay is almost always greater than net pay, as net pay is after taxes, benefits, etc. Gross pay is what the company tells you that they will pay you. Net pay is what you actually take home.


Gross pay net pay?

gross pay: the amount made before taxesnet pay: the amount after subtracting taxes and benefit from your gross pay


What does groos pay and net pay mean?

Gross pay total amount of earnings for the time period. Less all of the necessary withholding that will have to withheld from the gross amount then you paycheck will be issued to you for your net pay. Net paycheck take home pay.


What is the difference between gross pay and net pay?

It is taxes and benefits.Gross pay - taxes + benefits = net pay.


What is the difference between gross pay and net pay known as-?

Gross pay is a persons pay that is including overtime, allowances and bonuses. Net pay is when it is totaled together and subtracting the gross pay from it.


How do you solve monthly gross pay?

Net pay = gross pay - deductions. Or in percentages: Net pay = gross pay x (1 - percentage of deductions / 100) If you have any two of these, you can solve the third. For example, in the last formula: gross pay = net pay / (1 - percentage of deductions / 100)


Is net pay always more than gross pay?

No ... Net pay is what you get to take home after taxes. Gross pay is your salary before taxes.


What is the difference between gross pay and net after tax incomes?

The difference between gross pay and net pay is that gross pay is the amount that you receive before tax deductions and pay net is the money you take home after all the tax deductions


Are wages earned your gross pay or your net pay?

The wages you earn are your gross pay. After taxes and everything else is removed from your paycheck, what remains is your net pay.


What is the take home pay the gross or net?

Generally, take home pay is net pay.


On 941 forms do you pay on gross or net wages?

gross?


Does unemployment use gross or net pay to get benefits?

gross.


Is gross pay the same as net pay?

No, net pay is your take home pay after taxes and other deductions


What is the difference between gross and net pay?

Look it up..... You have to read something in order to answer something... Duuhhh.... But its gross pay is net pay minus deductions.


What is the relationship between net and gross pay?

Gross pay is calculated before taxes are taken into consideration where net pay is the amount of money you make after tax.


What is his gross pay?

the pay before taxes net pay is after taxes


What is greater gross pay or net pay?

Gross. It's what you earn before any deductions.


Does net net include taxes?

If looking at your pay stubs, you gross pay represents your total pay before taxes. The net pay is your pay after taxes.


Do you pay tax on your gross income or net income?

You pay tax on your adjusted gross income. This is not quite the same thing as gross income, but it's definitely not net either.


What is the annual gross income of a hairdresser?

Gross and net pay for hairdressers


What is difference between gross pay and net pay?

Gross pay amount is without any deductions while net pay amount is after adjusting the required tax or other deductions.


What is net pay on a pay slip?

The amount you take home. Net pay is the gross pay less all deductions.