paycheck

Gross Pay

Deductions

Net Pay

Amount of money earned before deductions.

Amount of money you take home after deductions.

Deductions money with held by employer.

W2

W4

W-2 form

the from that an employer must send to an employee and the IRS at the end of the year. the from reports an employee annual wages and the amount of taxes withhold from his or her

W-4 Form

a form completed by a new employee. the w-4 tells the employer the correct amount of tax to withhold from an employee paycheck.