Paychecks
In almost all cases after you become an employee, you will receive your pay via a paycheck. You will get paid every week, or sometimes every two weeks, or sometimes on the 1st and the 15th of every month. Your compensation will either be as an hourly employee, where you get paid for every hour worked, or as a salary where you receive a set amount every paycheck no matter how much you actually work. Salaried employees often get additional Benefits that hourly employees typically do not.
Employers are required to collect taxes on behalf of the government from you when they pay you. So your paycheck will not be for the full amount you might expect.
For example, if you have a job that pays you $20 per hour and you work 40 hours in a week, you have earned a total of $800 for that week. That is known as the gross amount of your earnings. It is the amount you owe taxes on, so the employer removes from your pay the required taxes before paying you. The net amount remaining, which will always be much less than the gross amount, is what you will see on your check as take-home pay.
Note that depending on how much you earn, you may very well be eligible to have most or all of that tax money returned to you when you actually file your annual tax return. This is one reason it is a very good idea to hire an Accountant to help you file your Taxes before the very first time you file.
Depending on the specific Benefits you may be receiving as an employee, there might be other deductions taken from your gross pay in addition to taxes. Every deduction of every kind that has been taken from your gross pay is detailed on the paycheck stub attached to every paycheck you will receive.
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Paychecks
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