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What is the difference between net and gross on a paycheck for self-employed?
Wiki User
∙ 12y ago
One answer:
Net pay is what is left after the withholding of deductions (such as health insurance or wage garnishments) and taxes owed by the employee. That is, net wages are equal to gross wages, less taxes and deductions. Typically, employers and employees negotiate on the basis of gross wages, although household employees who are unfamiliar with the U.S. tax system might be more concerned about the net wages that they are actually able to draw upon for their immediate personal use.
Another answer:
Gross is what you made i.e. hourly rate times hours worked. Net is what you get paid after Social security, Federal income tax, State & local Tax and on and on.. Has been taken from it. To find out what percentage is being taken out.
Change _______________ Original amount
Subtract the Net from the gross. Divide the answer (change) by the original amount. Move your decimal point over two spaces to the right and you have the percent.
Gross $1200 Original amount Net -$875 =325 Change
325 divided by 1200 = .27083333... or 27%
Wiki User
∙ 12y ago
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What is the difference between gross income and net income?
Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
What is the difference between gross payment and net payment?
Gross = Before TaxesNet= After Taxes
The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
What is difference between sales and prime cost?
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Difference between gross income and net income?
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What is the difference between net and gross on a paycheck?
Your gross income is your income before anything is taken out. Your net income is your remaining income after deducting taxes and expenses--so on your paycheck, your net is your "take home pay".
How much money did Paycheck gross worldwide?
Paycheck grossed $89,350,576 worldwide.
Net to Gross Paycheck Calculator?
Net to Gross Paycheck Calculator This calculator helps you determine the gross paycheck needed to provide a required net amount. First, enter the net paycheck you require. Then enter your current payroll information and deductions. We will then calculate the gross pay amount required to achieve your net paycheck. This calculator has been updated to use the new withholding schedules for 2010.
How much money did Paycheck gross domestically?
Paycheck grossed $53,789,313 in the domestic market.
What is the difference between gross income and net income?
Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
What is the relationship between gross salary and cost-to-company?
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Why is there such a difference between net and gross on a paycheck?
There must be a lot of deductions. Depending on the country that you live in, there will be tax, National Insurance or pension contributions, charitable donations from pay, union dues etc. Not all will be relevant everywhere.
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