Calculating gross wages is the first step to paying employees correctly and keeping accurate payroll records. Learn about the process with this guide. Gross wages sounds like a simple concept. It’s ...

Understanding the difference between gross pay and net pay is crucial for both employees and employers. Gross pay is the ...

Gross pay and net pay both appear on employee paychecks. Gross pay is an employee’s earned wages before deductions. By contrast, net pay is the amount an employee takes home after deductions. For ...

The Federal Insurance Contributions Act, or FICA, has two components: Social Security and Medicare. The Internal Revenue Service has statutory authority to collect both taxes. Both the employer and ...

Tax season is nearly upon us. For some, it may be your first time filing taxes. And even for those who have filed for years, taxes are not always the easiest task to tackle. Here's what you should ...

Grossing up is a method of increasing employee pay to cover a tax burden. A common scenario for grossing up is covering the cost of moving expenses for an employee, and then grossing up to cover the ...

You may find your job fulfilling, but at the end of the day, you work to earn a living. That income provides a roof over your head and food on your table. Discover More: Salary Needed To Achieve the ...

Jenni Fink is a senior editor at Newsweek, based in New York. She leads the National News team, reporting on politics and domestic issues. As a writer, she has covered domestic politics and ...

Net pay is the amount of money employees earn after payroll deductions are taken away from gross pay. These includes taxes, benefits, wage garnishments and other deductions. In simple terms, net pay ...