Money

6 Tips For Understanding Your Paycheck Stub

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W4 form, and the exact sum will be displayed on it.Similar to this one, there are also state income taxes that are based on your earnings.

Finally, you may also have to pay local taxes. There is only a small number of cities and districts that charge these, so a pay stub example may be of help once again to see how this amount is displayed.Finally, there is something called FICA taxes, which are split between employees and employers.

Firstly, you pay Social Security taxes at a rate of 6.2%. Secondly, there is Medicare. When it comes to this one, 1.45% of your salary goes for this, and your employer pays the exact same sum.The bottom half of the real pay stub depicts the before and after-tax deduction section.

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