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    Funs

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    The document discusses how to understand a paycheck. It explains that a paycheck stub contains earnings and deductions sections. Earnings show hours worked and rate to calculate gross pay before taxes. Deductions include taxes like federal income tax, Medicare, and Social Security (FICA) which fund government programs. A 401k retirement plan contribution may also appear as a deduction.

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    Funs

    Uploaded by

    api-338775974
    16 views1 page
    The document discusses how to understand a paycheck. It explains that a paycheck stub contains earnings and deductions sections. Earnings show hours worked and rate to calculate gross pay before taxes. Deductions include taxes like federal income tax, Medicare, and Social Security (FICA) which fund government programs. A 401k retirement plan contribution may also appear as a deduction.

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    The document discusses how to understand a paycheck. It explains that a paycheck stub contains earnings and deductions sections. Earnings show hours worked and rate to calculate gross pay before taxes. Deductions include taxes like federal income tax, Medicare, and Social Security (FICA) which fund government programs. A 401k retirement plan contribution may also appear as a deduction.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    16 views1 page

    Funs

    Uploaded by

    api-338775974
    The document discusses how to understand a paycheck. It explains that a paycheck stub contains earnings and deductions sections. Earnings show hours worked and rate to calculate gross pay before taxes. Deductions include taxes like federal income tax, Medicare, and Social Security (FICA) which fund government programs. A 401k retirement plan contribution may also appear as a deduction.

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    of 1

    DN2 CODE

    4/7/17 DATE

    4b BLOCK DIGINOTES
    NAME

    Jashawn Sanders

    TITLE

    How To Understand Your Paycheck

    NOTES

    There are two main sections of you paycheck stub.


    You have your earning
    Then you have your deductions
    The number of hours and rate = gross pay
    gross pay is the money you make before taxes
    Deductions include federal income tax & medicare
    FICA- Federal Insurance Contributions Act
    Medicare and Social security are used to fun federal governments program
    in 401 k this may or may not show up on your paycheck depending on where you work
    401 k is what would be your company funded retirement plan

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