Guides ยท Finance
Payroll Deductions Basics
Understand paycheck deductions
Payroll deductions include taxes, insurance, retirement, and other withholdings that reduce gross pay to net; understanding them aids planning.
- withholding
- benefits
- pre-tax
- post-tax
- paystub
Identify Deductions
Pre-tax items like 401(k), HSA, insurance; post-tax items like garnishments.
Check Accuracy
Match elections to deductions; verify taxes withheld.
Adjust
Update elections during open enrollment or life changes.