
Understanding Your Paycheck
Where did the money from your paycheck actually go? We break down a real pay stub and investigate every deduction.
Learn gross pay vs. net pay, taxes, FICA, health insurance, and the 401(k) match that can help build wealth.
Austin earned $610—but only $480.34 landed in his bank account. Nearly $130 disappeared, so Detective Emily Holmes opens an investigation into the six suspects listed on his pay stub.
In this episode, we explain:
• Gross pay versus net pay
• Federal income tax withholding
• Social Security and Medicare taxes (FICA)
• State income tax
• Health insurance premiums
• 401(k)…
The skinny
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