It's important to keep track of how much you've earned throughout the tax year. Here's how net pay works and its difference from gross pay.

Calculating gross wages is the first step to paying employees correctly and keeping accurate payroll records. Learn about the process with this guide. Gross wages sounds like a simple concept. It’s ...

Gross pay is the amount of money you earn before any payroll deductions are taken out of your paycheck. In contrast, your net pay is the amount of money you take home after deductions like taxes, ...

Tax season is nearly upon us. For some, it may be your first time filing taxes. And even for those who have filed for years, taxes are not always the easiest task to tackle. Here's what you should ...

Whether you work a job where you are paid hourly or through an annual salary, how much you earn can be described as either net or gross pay. Understanding the difference between net pay and gross pay ...

Learn how to calculate payroll taxes in these easy steps. Follow our guide for accurate tax deductions, tips, and tools to simplify payroll processing. Calculating your employees’ gross pay is just ...

For individuals, your gross income is the total amount of earned income that you can find on your paycheque before any taxes and deductions are taken off. It considers all sources of income from your ...

The Federal Insurance Contributions Act, or FICA, has two components: Social Security and Medicare. The Internal Revenue Service has statutory authority to collect both taxes. Both the employer and ...

Most small businesses are set up to "pass through" income. If you're a sole proprietor or run an S corporation, your business doesn't pay taxes. Instead, the money passes through to you, and you ...

Adjusted gross income is a tax term everyone should understand. Also known as AGI, it has ramifications that extend beyond the tax season. “People are asking you all the time for your adjusted gross ...

Net pay is the amount of money employees earn after payroll deductions are taken away from gross pay. These includes taxes, benefits, wage garnishments and other deductions. In simple terms, net pay ...