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Understanding Your Paycheck Worksheet Answer Key  Form

Understanding Your Paycheck Worksheet Answer Key Form

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Instructions and help about paychecks worksheet 1 13 1 a1 answer key

segment one breaking down your paycheck hey everyone welcome back to channel today we're breaking down your paycheck and the deductions that come with it on your paycheck you'll find your gross pay which is your total earnings before deductions including your salary overtime and bonuses for example if you worked 80 hours at $20 an hour your gross pay would be $1,600 deductions which include mandatory ones like federal and state taxes Social Security and Medicare are subtracted from your gross pay to determine your net pay these are required by law to fund government programs optional deductions like 401K contributions or health insurance premiums are chosen by you and can vary based on what your employer offers segment two managing your deductions to manage your deductions effectively regularly review your paycheck to ensure accuracy and adjust optional deductions based on your financial goals for example Le increasing your 401k contributions can boost your retirement s

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