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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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