The Difference Between Gross Pay And Net Pay

1
(No Transcript)
2
The Difference Between Gross Pay And Net Pay
3
(No Transcript)
4

• Understanding the difference between gross pay vs
  net pay is important for comprehending your taxes
  and may help you develop a plan for your monthly
  living expenses. Gross pay is the amount of
  income earned before any deductions are taken
  out. This means your salary or hourly wages
  before federal, state, and local taxes and other
  deductions are taken from your total earnings.
  Gross salary typically includes any bonuses,
  commissions, and overtime pay as well.

5
(No Transcript)
6

• Once you have been paid your gross salary, your
  employer will send the taxes and other deductions
  to the appropriate taxing authorities on your
  behalf. Net salary is the amount you receive in
  your paycheck after your employer withholds these
  taxes from your paycheck. Gross paycheck is the
  same as net paycheck it is the total amount of
  money you get in your check once taxes are
  deducted. So, in most cases, your take-home pay
  is always the same amount as your gross pay minus
  applicable taxes.

7

• Gross taxes are basically the amount you would
  have to pay in federal income taxes if you had no
  employer deductions from your paycheck. This
  includes the standard deduction and personal
  exemptions you may claim on your tax returns each
  year. Net taxes are usually calculated by
  subtracting out all the taxable and non-taxable
  benefits that are taken out of your income in a
  given year to calculate your taxable income.

8

• Read Full Article By Click On Below Link
• https//valuedpost.com/finance/what-differentiates
  -gross-pay-from-net-pay/