BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Totals all of the deductions which havebeen withheld from an individual’s paycheck from January 1 to the last day ofthe pay period indicated on the paycheck stub
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payroll withholdings
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income tax
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social security
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year to date
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Explanation:
Detailed explanation-1: -Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay.
Detailed explanation-2: -Payroll deductions are wages withheld from an employee’s paycheck for the payment of taxes, benefits, or garnishments. There are both mandatory and voluntary payroll deductions. The order in which deductions are taken out of paychecks also matters because some are made pre-tax and some are made post-tax.
There is 1 question to complete.