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What is the total amount of money earned before payroll deductions?
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What is the money someone has earned before any deductions such as taxes?
Gross income
What is total amount earned by the employees in a pay period is called?
gross pay
Is the total money you earned if you don't subtract the deductions?
It is Gross Pay.
Which form details earned wages together with required and optional deductions?
W-2
What is more gross pay or net pay?
Gross pay is higher than net pay. This is because gross pay includes salaries and bonuses earned by an employee of a company. On the other hand, net pay is obtained when taxes are deducted from gross pay. Therefore, gross pay is higher. The difference between gross pay and net pay can be explained using the following example: David works in a factory. His hourly rate is $3. He has worked 8 hours a day for 26 days of the month. Taxes deducted are FICA tax (3%), and State tax (2%). Calculate his gross pay and net pay. In the above example, David's gross pay is $624, which is obtained by multiplying hourly rate, hours worked per day, and number of days. His net pay will be $592. This is obtained when FICA tax ($19) and State tax ($13) is deducted from gross pay. Thus, gross pay is always higher than net pay.
What is grosse pay?
The amount of money earned before deductions are taken out of a paycheck
What age does an employee start EI payroll source deductions?
EI EARNED INCOME SOURCES. No age is required for this purpose. The required withholding amounts will begin to be withheld on the day that the EARNED INCOME begins to be EARNED.
What is the money someone has earned before any deductions such as taxes?
Gross income
What is total amount earned by the employees in a pay period is called?
gross pay
What is net pay?
the total amount of money earned after all withholdings
How do you figure out your gross income?
Gross income is all monies earned and received before deductions. ( taxes, EI, Union Dues, etc ) After deductions it is considered Net income.
What is the maximum amount of personal income tax in the US that has to be paid?
There is no maximum. Earnings above a certain amount (after deductions) are taxes at a fixed percentage rate..that will not change regardless of how much is earned.
What is the difference between Gross Income and Net Income as it is applied to the typical worker?
Gross income usually is the money someone or something has earned before any deductions such as taxes, expenses, or promotion has been deducted. If you are receiving money after such expenses have been deducted, you are receiving money based on NET income.
Is the total money you earned if you don't subtract the deductions?
It is Gross Pay.
What is base employment Income?
Base employment income is the amount earned before commission or other bonuses. It is also the gross income earned before taxes are taken out.
Which form details earned wages together with required and optional deductions?
W-2
Declaration of income exemptions and deductions claimed?
Deductions take many many forms and names. They depend on situations too and the type of income you have or how you earned it. Your question is entirely too broad to have any list or comprehensive answer. However, as a start: Try the IRS website. www. IRS.GOV and type in "DEDUCTIONS" in their search engine. You might want to be more specific about the deductions you are looking or, i.e. deductions for homeowners deductions for day care deductions for business deductions for travel deductions for investing deductions for medical etc, etc ....
