Taxes and Tax Preparation

# When you earn a paycheck is it important to know how to compute the deductions to form your gross pay?

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###### Answered 2017-06-02 01:59:02

Your GROSS pay is before any deductions. Compute deductions, subtract them from your gross pay, and get your NET pay- that is how much you get to take home.

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## Related Questions

The amount of money earned before deductions are taken out of a paycheck

It is your paycheck before any deductions, taxes or benefits are taken out. Simply how many hours you work multiplied by your hourly rate.

Net to Gross Paycheck Calculator This calculator helps you determine the gross paycheck needed to provide a required net amount. First, enter the net paycheck you require. Then enter your current payroll information and deductions. We will then calculate the gross pay amount required to achieve your net paycheck. This calculator has been updated to use the new withholding schedules for 2010.

Your annual income is generally your net income - what you earned (gross income) minus the taxes and pre-tax benefits you pay for prior to getting your paycheck (deductions).

Would you believe the gross pay would be 200 X .80 would equal 160 net take home paycheck.

Gross salary means the total salary BEFORE any deductions are taken, so the answer is no deductions.

It means your gross income minus the net tax deductions, the tax deductions as federal income taxes, state taxes, Fica, medicare, SUI/SDI. Other taxes are not included, such as, life insurance, charity, or debts that are taken automatic from your paycheck.

Net pay is the money you actually recieve after all tax and other duductions are taken from your gross pay (total pay before deductions).

The gross price would be the price before deductions. The net price is after deductions.

Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income

gross income - (required deductions + optional deductions)

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.

You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department. You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings not from your paycheck.

Gross income is the sum of income from all of the revenue generating activities. This does not include any deductions. Taxable income is the gross income and all of the deductions. Taxable income is always lower than gross income because all of the deductions are included.

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)

Paycheck grossed \$53,789,313 in the domestic market.

As far as my knowledge goes, the difference between net and gross values is that the gross value is the value before deductions, while net is basically after deductions from your gross value. Hope it helps!

GROSS INCOME &lt;ADJUSTMENTS&gt; = ADJUSTED GROSS INCOME &lt;STANDARD DEDUCTION&gt; OR &lt;ITEMIZED DEDUCTIONS &lt;EXEMPTIONS&gt; = TAXABLE INCOME APPLYING THE TAX BRACKETS ON YOUR TAXABLE INCOME, YOU WILL COMPUTE THE FEDERAL INCOME TAX. FEDERAL INCOME TAX &lt;TAX CREDITS&gt; OTHER TAXES &lt;PAYMENTS&gt; = TAX DUE OR REFUND. This is the basic formula for US. Tax

You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department. You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings not from your paycheck.

You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department. You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings not from your paycheck.

You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department. You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings not from your paycheck.

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

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