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5 Common Payroll Deductions Made From An Employee's Paycheck [Infographic]

5 Common Payroll Deductions Made From An Employee���s Paycheck



FEDERAL INCOME TAX

Amount calculated on Taxable Income

Marital Status

Frequency of Pay

Number of Claimed Allowances



SOCIAL SECURITY

Flat Percentage Rate

Deduction based on Taxable Income

Also Appears as FICA Tax



MEDICARE TAX

% Flat Percentage Rate

$ Based on Taxable Income

! Also Appears as FICA



OTHER DEDUCTIONS

Insurance Policies

Deductions Vary According to State and Employer



STATE INCOME TAX

Calculated Based on W4 or State Income Tax

Marital Status

Taxable Income

Allowances



Wage Garnishment

Employers Can Withhold Earnings In Order To Pay Debt

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5 Common Payroll Deductions Made From An Employee's Paycheck [Infographic]

shared by JaneKelly321 on Jul 27, 2012 in Business

5 Common Payroll Deductions Made From An Employee's Paycheck [Infographic]

shared by JaneKelly321 on Jul 27, 2012 in Business

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An infographic on Common payroll Deductions made from an employee's Paycheck.
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