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Your paycheck stub serves as proof of income and government agencies, lenders and landlords often request them to verify your earnings.
You can see the exact dollar amount of your tax withholdings on your pay stub each pay period, and you can adjust your withholdings by submitting a new W-4 as often as you wish.
Amounts of tax withheld are determined by the employer. Tax rates and withholding tables apply separately at the federal, [6] most state, and some local levels. The amount to be withheld is based on both the amount wages paid on any paycheck and the period covered by the paycheck.
A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck.
Forty-three states impose a tax on the income of individuals, sometimes referred to as personal income tax. State income tax rates vary widely from state to state. States imposing an income tax on individuals tax all taxable income (as defined in the state) of residents.
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Understanding Pre-Tax vs. Post-Tax Deductions. Pre-tax deductions are when your employer pulls money out of your check before the IRS gets its claws on its share of your income. Although it would ...