Net pay is the amount of a person's paycheck left over after any deductions are taken out. This commonly includes federal and state tax withholding, Social Security and Medicare taxes. In addition, any voluntary withholdings, such as the employee's share of medical insurance, reduce the net pay.Know More
Employees can adjust their net pay somewhat by electing to take a different number of allowances for their tax withholding. Increasing allowances will reduce the amount of tax taken out with each check and may be done in order to reduce the amount of taxes refunded at the end of the year. Improperly calculating allowances can lead to tax penalties, however, so this should be done with care.
Locate the gross pay under the "Total Earnings" or "Gross Pay" section of a paycheck and multiply the amount by 12, 24, 26 or 52, according to Cynthia Measom for the Houston Chronicle. Multiply by 12 if payment is once a month or 24 for a pay frequency that is twice a month. Multiply by 26 if the payment cycle is every two weeks or 52 for weekly paychecks.Full Answer >
The amount a union welder earns depends greatly on where he works, who his employers are, and what experience he has . The average hourly wage for a welder is about $22.80. An entry-level welder can make between $40,000 and $51,000 a year.Full Answer >
The amount that school teachers get paid depends on many variables, such as education, location, number of years of experience and the level of school being taught. The mean salary of an elementary school teacher in 2012 was $56,130, $56,280 for middle school teachers and $57,770 for high school teachers.Full Answer >
The amount of a Christmas bonus varies, depending on the company awarding the bonuses. Christmas bonuses are not a requirement for any business, and this allows employers to provide bonuses at their own discretion. While bonuses are not given by every company, they are known as a tradition in the financial industry.Full Answer >