Why is taxable pay different to gross pay

Total Pay: This is the total amount you earned before tax from all lines shown Bottom Section Taxable Pay: The amount of your earnings that have been taxed from this payment period only Non Taxable Pay: The amount of pay that is not subject to Tax. Total Pay: The total amount earned, before tax in this payment period.

Total Deductions: The total amount deducted from your wages for Tax, NI and Pension contributions for this payment period. Net Pay: The amount that is left after all deductions have been made. This is the amount that will arrive in your bank account. Salary Checkers Wondering what your take home pay will be, click here and check out our handy salary calculator tool.

Get in touch You can keep up with my musings by subscribing to my nifty newsletter. See more articles here. Related blog articles Money Management - from a budget planner to the salary calculator 30 June Money management advice, helpful tools and our salary calculator.

What is the gender pay gap? Subscribe to our Newsletter Get the latest blog articles and news updates straight to your inbox. Career Advice. Share location? These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm.

Visit performance for information about the performance numbers displayed above. Taxable Pay By: William Pirraglia. More Articles 1. Tax on Severance Pay 2. Deduction Impact on Net Pay. Retirement Plans If your employer offers a contributory retirement plan, such as a k, your contributions are made pre-tax, lowering your taxable pay. Flexible Spending Accounts Flexible spending accounts, sponsored by your employer, come in various types.

Your Benefits You benefit from these pre-tax deductions by paying lower federal and state income taxes and decreased payroll taxes. YouTube cookies are set by a third-party service provided by YouTube, a company owned by Google. These cookies are required in order for our video functionality to work. When you save your YouTube cookies choice below, Revenue will save a cookie on your device to remember your choice. This Revenue cookie is set as a session cookie and will be deleted once you close this browsing session.

YouTube may set cookies directly according to YouTube's own cookies policy. These amounts are deducted from your gross pay before your employer calculates your tax. Next: What are tax credits? Published: 28 April Please rate how useful this page was to you Print this page.

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