employed secretary
2007-01-10 02:55:54 · 8 answers · asked by Renee 1 in Business & Finance ➔ Careers & Employment
Gross is your salary before any deductions have been made.
Net is the dollar amount that you take home each payday. The percentage depends on your deductions - taxes, credit union, medical, SSI, union dues, etc. If you want to know what percentage of your check is going for deductions, you take the net amount and divide it into your gross amount.
Example: Your gross is $2500 per month, and your net is $1827 per month. You have $673.00 in deductions. $673.00 ./. $2500.00 = .2692 % of the total deductions from your check. Rounded off = 27 %
Proof: $2500.00 times .2692 = $673.00 total deductions
If you want to bring home more money all you have to do is increase your number of dependents until the end of the year. Realize at tax time you will have to fill your true number of dependents, and you probably will owe Uncle Sam.
2007-01-10 03:19:53 · answer #1 · answered by D S 4 · 0⤊ 0⤋
For paychecks, the gross is the full amount before deductions. The net is the amount you receive after all deductions have been withheld. This includes Fed, state, and local taxes.
-Dio
2007-01-10 03:07:18 · answer #2 · answered by diogenese19348 6 · 0⤊ 0⤋
Gross is the amount you are paid; net is what you get to take home after all the with holdings (Social Security, Federal, State & local taxes, etc.)
2007-01-10 03:05:39 · answer #3 · answered by c.s. 4 · 0⤊ 0⤋
Gross is a total before anything is subtracted such as your pay. Net is what is left after all deductions are taken away such as taxes, insurance, etc.
2007-01-10 03:03:47 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
depends how much is the gross and how much is net.
for eg: -
IF gross is 100 and net is 10 then net is 10 % of gross.
2007-01-10 03:03:23 · answer #5 · answered by Michael 3 · 0⤊ 0⤋
gross is what you make. net is what you bring home. net pay is what yoiu bring home after taxes and other deductions. and since you asked this question i will assume this to be your first paid job.. then again i may be completely wrong about that.
2007-01-10 03:05:12 · answer #6 · answered by ? 4 · 0⤊ 0⤋
the gross indicating the total amount with out extra deduction/addition. but net shows the total amount after extra deduction/addition.
2007-01-10 03:04:18 · answer #7 · answered by khodadad_omid 2 · 0⤊ 0⤋
35% of what you earn goes to taxes - the balance of your paycheck is the net income.
2007-01-10 03:07:42 · answer #8 · answered by Diane A 5 · 0⤊ 0⤋