I have decided to kick off my blog with a mini series focused on your paycheck. The paycheck after all, is how the money you earn enters your life, and it is beneficial to be familiar with how your salary is impacted before the cash you earn finally reaches your pocket.
Why this mini series should interest you?
Say for example last week you loaned your friend $100. Two weeks later he pays you back but only gives you $85. You would want to know why you only got $85 and where the remaining $15 went. This can be directly linked to your paycheck, but instead of loaning money you are giving your time in terms of hours worked. To make the link say you work 8 hours at $10 an hour, but at the end of the day get a check for $71, not quite what you expected, right? Were did the other $9 go? This mini series will help answer that question.
During this mini series I will be touching on various topics such as:
- Gross Income
- Net Income
- Federal Taxes
- State Taxes
- Before and After Tax Deductions
and possibly a few others, if you have a question or specific request related to your paycheck, leave a comment and I will do my best to answer in a future post.