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What kinds of deductions are required to be taken from earnings?
Wiki User
∙ 16y ago
Look at your pay stub...it identifies each thing withheld from your gross pay. Not all are income taxes...some may be contributions to insurance, etc., others things like unemployment or workers comp. Speak to your payroll provider if you have a question why you may be subject to that type of withholding. Virtually anything withheld that you aren't liable for paying upon filing of your returns is refundable. Remeber, your paymaster has absolutely no reason to withhold anything they don't have to. They have no interest or claim in the money. All doing so means to them (or your company) is more work, more audit exposure, more accounting, form filing, mailing, answering dumb questions, etc. all under deadlines that if they don't do quickly and on time, mean they get generally, mandatory penalties.
Wiki User
∙ 16y ago
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What kinds of deductions may someone choose to have taken out of their pay checks?
Above the ones required by law to be withheld (generally taxes and FICA and unemployment, etc), you can chose any that your employer will allow...he has no obligation to provide the service.
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.
How much you make before taxes and deductions are taken out?
Department
Money taken out of a salary for such things as taxes medical insurance and retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
What is post tax deduction?
Post tax deductions are deductions that are figured after taxes have already been taken out, such as a pay advance repayment. Pretax deductions are deducted from gross pay, then federal and state income taxes are determined on the net amount.
What is an employee earnings record?
It is a record of all the earnings and deductions an employee had for a specific period of time. The record has information pertaining to pay rate, paid hours, type of pay, what deductions were taken from pay such as taxes and deductions. It also contains dates of pay periods and pay dates.
What kinds of deductions may someone choose to have taken out of their pay checks?
Above the ones required by law to be withheld (generally taxes and FICA and unemployment, etc), you can chose any that your employer will allow...he has no obligation to provide the service.
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 is deductions taken from wage packet?
it is money that is taken from your wages per month
What does net pay mean on the payslip?
Net paycheck could also be referred to as your take-home pay. That is your actual payroll amount (Gross earnings) minus deductions like health insurance and taxes.
How much you make before taxes and deductions are taken out?
Department
Money taken out of a salary for such things as taxes medical insurance and retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
Compulsory and voluntary deductions?
Compulsory deductions are taken from your check whether you agree or not, such as happens with taxes. Voluntary deductions are those you ask for, such as money to be deducted and placed into your retirement savings account.
Are taxes paid on insurance deductions taken from pay check?
yup
What is grosse pay?
The amount of money earned before deductions are taken out of a paycheck
What is the name for money being taken of your check for tax purposes?
Deductions at source.
Is it usual for minors who work a summer job to not have federal deductions taken out of their paycheck by the employer?
NO
