How to read a pay stub

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It's Not About The Money

Steve Nay and Tyler Smith

57 episodes

2 months ago

Solopreneurs and small business owners: learn about leadership, operations, entrepreneurship, productivity, taxes, client creation, marketing, bookkeeping, and more.

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Solopreneurs and small business owners: learn about leadership, operations, entrepreneurship, productivity, taxes, client creation, marketing, bookkeeping, and more.

Entrepreneurship

Business,

Careers

How to read a pay stub

It's Not About The Money

19 minutes

1 year ago

How to read a pay stub

Reading a pay stub can be confusing. What are all the things that get taken out before the money hits your bank account?

Let’s go through the most common line items on a pay stub and explain what they mean, which ones you can adjust, and how they affect your tax refund.

IRS withholding calculator: https://apps.irs.gov/app/tax-withholding-estimator

(00:00) - A spreadsheet of pay stubs
(05:02) - Federal income tax withholding
(06:47) - Social Security and Medicare
(09:28) - State and local taxes
(11:57) - Other pre- and post-tax deductions
(14:06) - What percentage are you actually taking home?
(16:59) - How and when to adjust your federal tax withholding

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Steve Nay:

Tyler Smith: