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Username: LuckyWoman

Rating:
Guru Stars

Asked to: Apinya Kamon

Date Created: 26 Dec 2018
Category 28
Tag Financial
Question What is Take-Home Pay?
Advice from Guru
Hi LuckyWoman,

Take-home pay is the net amount of income received after the deduction of taxes, benefits, and voluntary contributions from a paycheck. It is the difference between the gross income less all deductions. Deductions include federal, state and local income tax, Social Security and Medicare contributions, retirement account contributions, and medical, dental and other insurance premiums. The net amount or take-home pay is what the employee receives.

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