payroll deductions
Wages minus takeouts
Payroll deductions are amounts subtracted from an employee's gross wages before they receive their paycheck.
Some deductions are mandatory, such as federal and state income taxes, Social Security, and Medicare contributions.
Others are voluntary, including contributions to retirement plans, health insurance premiums, or union dues.
My payroll deductions increased after I signed up for the company's 401(k) plan.
The sum of all deductions determines the difference between gross pay and take-home pay.
- commuter benefitsEmployer perks for travel
- union duesPayments to labor organizations
- income taxGovernment charge on earnings
- wage garnishmentForced paycheck withholding for debt
- pre-taxBefore levies apply
retirement savings · disability benefits · state income tax · unemployment insurance · Medicare tax · charitable donations · health insurance · contributions · employee benefits · accident insurance · parking fees · FICA · employees · pension contributions · withholding · pension funds · pension schemes · exemptions
- war effortwar bonds, liberty bonds, Red Cross, USO, victory gardens
- Canadian taxesT1, T4, GST, PST, CPP
- payroll deductionsemployee contributions, employer contributions, pension contributions, insurance premiums, disability insurance
- Payroll TaxesMedicare tax, withholding tax, federal withholding, FICA, employment tax
- retirement savingsretirement savings, retirement funds, 403b, retirement account, retirement fund
- tax deductionsdeductions, tax deductions, exemptions, itemized deductions, write-offs
payroll deductionsgross pay
Earnings before withholdings
gross earnings · gross wages · take-home pay · net income · earnings
payroll deductionstax refunds
Returned excess withholdings
employer contributions · matching contributions · tax credits · rebates · payouts
payroll deductionstake-home pay
Earnings after withholdings
net pay · net income · net earnings · money in hand · disposable income