CODE

DATE

BLOCK DIGINOTES
NAME

Chris Hemphill

TITLE

How to Understand Your Paycheck

NOTES

There are two main sections of your paycheck stub

Earnings
Deductions
Earnings is pretty straightforward
It shows your rate
Gross pay is the money you make before taxes and deductions
Deductions are subtracted from your gross pay
These are taxes
Federal and state taxes
Some taxes are used to fund federal government programs
There are many other deductions as well
Some depend on where you work
After the deductions are subtracted your net pay is determined
Its important to pay attention to the money you take home
Net pay = Gross pay after deductions