Important things to know about Personal Finance (1)

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Important things to know about Personal Finance Here at Check Stub Maker we have the ability for you to create personal check stubs online. You can forget about mailing out check stubs to your employees and spending your precious time doing payroll. Once you have used our pay stub calculator you will smile knowing that all the taxes withholdings and deductions have been automatically calculated. Once that is done you will be able to email check stubs to all of your employees. No more writing addresses or buying stamps. Even if your check stub comes by email it is still important to review it. You can fix any issues and you can even aid yourself in your personal finance. Understanding the Financial Side of you Check Stub As you go through your check stub it is important not to get caught up on all the different lines of numbers. The first thing to check is your gross income. Your gross income is the money you made which includes your salary and any bonuses or tips. The remaining take home pay is referred to as your net income. Below your gross salary you will see all of the different taxes that are coming out. Your federal income tax is based on the amount of exemptions you claimed on your W4. The more exemptions you claim the less money goes to the IRS. There are some individuals do not claim any exemptions even though they could. Doing this makes the IRS withhold more taxes out of each paycheck but when tax returns come you can expect a far larger pay back. This type of financial planning often comes in handy if you know that you are going to be hurting financially after Christmas. If you do your taxes the moment you get your W2 forms you will have additional money available in late January or early February. The other method is to claim all of your exemptions. The IRS will take fewer taxes out of each paycheck so each of your paychecks is going to be a bit larger. The risk with this method is that it comes with the risk of having to pay taxes at the end of the tax season. If you are not certain which method would be best for you you can always contact your employer and alter your exemptions. The other taxes that you will see coming out of your gross income are social security Medicare and then State and Local taxes. Deductions and Additions After the taxing section on your paystub you will notice the section that is dedicated to deductions. These can include retirement health care premiums health saving accounts and other benefits and deductions. Pay special attention to your retirement payments. If you employer matches your retirement contributions it will show the amount of money from your company on this line as well. It is always good to watch for mistakes. Errors can occur and it is better the catch them then let them slip by unnoticed. Some of the additions might include reimbursements for mileage meals cell phone payments or other company approved reimbursements. Personal Finance from Personal Check Stubs The most important tool you have in understanding your income is your check stub. With that in hand you will be able to make better financial decisions in your own personal finances. With Check Stub Maker you can have professional check stubs created that allow you to reduce the time you spend with

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payroll and the calculator. With Check Stub Maker on your side you can preserve more of your valuable time.

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