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Why do employers withhold a set amount of your income?

Kristi Hammond

in Student Loans

1 answer

1 answer

Ramon Kelly on March 25, 2019

There are common abbreviations that are used in the pay stubs, including:

  • Gross: Earnings before deductions
  • Net: earnings after deductions
  • Current: Pay period earnings
  • YTD: Year-To-Date
  • REG: regular hours worked
  • OT: overtime hours worked
  • HOL: holiday hours worked
  • VAC: vacation time paid
  • SICK or FL: ill or the family of paid leave
  • FICA: Employee portion of Social Security paid
  • FICA-MED: Medicare deductions
  • SWT or Fed: Federal withholding Income Tax deductions
  • SWT or State: State Tax withheld
  • LT or Local Taxes of the County and/or City Tax deductions
  • WC or Work Comp: comp worker's contribution, usually paid by the employer
  • INS or MED insurance or a medical savings account deductions
  • Life: life insurance deductions
  • 401K or Ret: deferred income taxes retirement contribution
  • Garrison: however, to be taken from the employees check, because that should be money
  • Gross salary: is the amount of money you make before deductions

Italics: optional
Bold: Not optional

NOTE: An employee part of the controls of the deductions based on how many dependents you claimed with the employer.

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