zoesal7976 zoesal7976
  • 12-10-2021
  • Business
contestada

taxes and withholdings impact your , which is the amount of money you take home on your paycheck.

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topeadeniran2 topeadeniran2
  • 20-10-2021

The amount of money that one takes home on their paycheck is known as the net income.

It should be noted that taxes are the compulsory levy that the employee pays which is deducted from their income. Also, pension allowance and some other fees can be deducted.

After all the deductions, the money that the person will then take home is known as the net income. This is the amount taken home after tax withholdings and every other deductions.

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