Q:

What is a pay stub?

A:

Quick Answer

A paycheck stub is the portion of a paper paycheck that the employee keeps after cashing their payroll check. Information typically included on the paycheck stub includes the number of hours worked, the amount paid to the employee, a breakdown of taxes paid and a list of various deductions.

Know More
What is a pay stub?
Credit: Comstock Stockbyte Getty Images

Full Answer

Paycheck stubs serve as proof of income and are often requested by various government agencies, lenders and landlords. Since they contain all income information including the total amount earned for the year, stubs are a reliable way to track salary, taxes paid, bonus information, insurance premiums, overtime pay and vacation pay. According to ClearPoint Financial Solutions, pay stubs include federal, state and local tax information.

Learn More

Related Questions

  • Q:

    Why do people have to pay taxes?

    A:

    The three primary purposes of taxes are to fund the government, redistribute wealth and mitigate the negative effects of many consumer products. Without the taxation system, the government and most social services would not be able to function.

    Full Answer >
    Filed Under:
  • Q:

    How much do employers pay in payroll taxes?

    A:

    Payroll taxes are shared by employer and employee, with the employer's portion amounting to a total of 7.65 percent for the 2013 tax year. Payroll taxes are made up of Social Security and Medicare taxes.

    Full Answer >
    Filed Under:
  • Q:

    Do I pay taxes on a court settlement?

    A:

    In most cases, monetary damages awarded by a court of law in the United States are treated as taxable income, with the exception of awards for physical injury or physical sickness. According to Nolo, these exceptions are explained in code 26 U.S.C. § 104(a). Other monetary awards arising from law settlements are taxed at ordinary rates.

    Full Answer >
    Filed Under:
  • Q:

    Do the Amish pay taxes?

    A:

    The only tax Amish and Mennonites are exempt from is the Social Security tax, and only if they are self-employed. For the most part, they pay the same taxes that other Americans do.

    Full Answer >
    Filed Under:

Explore